The new development Bank signed with the government of China agreement on its headquarters

SHANGHAI, February 27. /Corr. Artem Churkin/. The new development Bank (NDB) on the sidelines of the ongoing meeting of Finance Ministers and Central bankers of the group of twenty Thursday signed an agreement with the government of China, which governs the order of placement in Shanghai and functioning of the headquarters of the international Institute of Finance. Their signatures under the document have put the Minister of foreign Affairs Wang Yi and President of the NBI Kundapur the Iqamah.

They also signed a Memorandum with the Shanghai municipal government.

“We hope that with the support of the government of China and other BRICS countries, as well as the government of Shanghai New development Bank in a short time will become a new model of a multilateral development institution, which will work transparently, professionally and efficiently. We expect that the Bank will meet modern international standards, but at the same time will have its own unique features,” he told journalists after the signing ceremony, Wang I.

The agreement establishing the NDB was signed at the summit in the Brazilian city of Fortaleza in July 2014. In 2015 were generated controls, temporary headquarters in Shanghai. The Chinese side has committed itself to Finance the construction of a permanent headquarters.