Russia may borrow $1 billion from BRICS development bank - minister


By Darya KorsunskayaMOSCOW (Reuters) - Russia is in talks with the New Development Bank, set up by the BRICS group of major emerging economies, about raising more than $1 billion, Deputy Finance Minister Sergey Storchak told reporters on Monday.

If Russia borrows from the New Development Bank, it may trim its borrowing plan at home where it uses so-called OFZ treasury bonds to cover budget deficit.Storchak said on Monday that Russia would lower state borrowing via OFZ bonds if it had an option to raise money for building roads and bridges from.....

This article is no longer available in our repository.

There could be multiple reasons for this.