NDB finances emergency loan to China with Panda bond

Rebecca Feng

April 02, 2020 11:30 am

Panda_saying_hi_PA_230X150_02Apr20 — (200331) -- XI'AN, March 31, 2020 (Xinhua) -- Giant panda "Jia Jia" plays at the Qinling research center of giant panda breeding in northwest China's Shaanxi Province on March 31, 2020. In 2019, three giant panda cubs "Jia Jia", "Yuan Yuan" and "Qin Kuer" were born in the Qinling research center of giant panda breeding. The three giant pandas grew up healthily with the care of the staff. (Xinhua/Zhang Bowen) | Zhang Bowen/Xinhua News Agency/PA Images

New Development Bank, a multilateral development bank established by the five BRICS countries, sold a Rmb5bn ($704m) three year Panda bond on Thursday. All proceeds will be used to fund an emergency loan NDB recently promised to three Chinese provincial governments to help them combat the Covid-19 outbreak. Rebecca Feng reports.

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Rebecca Feng