ISLAMABAD -- Pakistan is buying a stake in the BRICS-backed New Development Bank (NDB), a move that could help Islamabad diversify credit options and reduce its dependence on the World Bank and the International Monetary Fund (IMF).
Economy
Pakistan buying stake in BRICS-backed New Development Bank
Nearly $600m investment seen as move to cut dependence on Western-backed lenders
Shanghai-based New Development Bank (NDB) was established in 2015 to finance infrastructure and sustainable development projects in emerging economies. © Reuters
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