Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Syrian sources: The Israeli occupation has begun withdrawing from the areas it infiltrated last night in the Quneitra countryside.
Al Mayadeen's correspondent: Massive bombings in eastern Gaza, the second within half an hour, and its sound was heard from central area.
Russian air defense units destroyed a drone that was heading toward Moscow.
Maduro: Tomorrow, a business meeting will be held bringing together hundreds of entrepreneurs from advanced Russian industries with hundreds of Venezuelan businesspeople.
Maduro: In the face of threats, Trinidad and Tobago agreed to suspend all effects of the energy agreement and everything that had been agreed upon in that regard.
Maduro: It’s time to make a choice, either stand with the warmongers who want death and violence, or stand with life.
Maduro: They want our wealth. This is not about drug trafficking, and they know it.
Maduro: Everyone in the world knows that what the economic elite ruling the United States seeks today is Venezuela’s oil, gas, and gold.
Maduro: The Prime Minister of Trinidad and Tobago is complicit and promoting war due to her personal, physical, mental, and moral weaknesses.
President Nicolás Maduro: A series of arrests have been carried out against what could be a group of mercenaries trained and funded by the CIA.

S.Africa receives funds from BRICS bank, China supports bloc expansion

  • By Al Mayadeen English
  • Source: Agencies
  • 21 Aug 2023 10:14
  • 1 Shares
2 Min Read

South Africa secures a $5.27 billion investment from the New Development Bank for crucial infrastructure projects.

  • x
  • A traffic policeman stands watching outside a venue of BRICS Summit in Sanya, China Wednesday, April 13, 2011 (AP)
    A traffic policeman stands watching outside a venue of a BRICS Summit in Sanya, China, Wednesday, April 13, 2011 (AP)

Ahead of the next BRICS summit on 22-24 August, South Africa has secured a substantial injection of funds totaling $5.27 billion from the New Development Bank established by BRICS member countries.

This financial infusion is designated for pivotal projects in road construction, water supply, and energy infrastructure, according to South African President Cyril Ramaphosa's announcement on Sunday.

Speaking to the nation in advance of the upcoming BRICS summit scheduled for August 22-24 in Johannesburg, President Ramaphosa lauded the benefits that South Africa has reaped from the New Development Bank, a multilateral financial institution created by BRICS nations in 2015.

"Our country has been funded by the bank in several infrastructure projects to the value of R100 billion in sectors such as roads, water, and energy," Ramaphosa stated, emphasizing the significance of these investments in the nation's growth.

Related News

Putin warns Europe on militarization, calls Gaza war a tragedy

Pezeshkian slams US proposal to trade uranium for sanctions relief

Read more: BRICS expansion to strengthen organization: Kremlin

China affirms commitment to the expansion of BRICS

Furthermore, China has reaffirmed support for the expansion process of BRICS. The Chinese Foreign Ministry's press service said BRICS is an inclusive mechanism and expressed welcoming sentiments for the inclusion of new partners into the fold of the "big BRICS family."

China's commitment to the expansion process also extends to working closely with BRICS partners to strengthen the chair country, South Africa, in organizing various BRICS events, ultimately contributing to the qualitative advancement of BRICS cooperation and fostering global peace, stability, and prosperity.

In anticipation of the BRICS summit, China's endorsement of the expansion process sets the tone for discussions on how the organization can continue to shape international dynamics.

Read more: BRICS eyes global geopolitical shift; Indonesia, Bangladesh to attend

  • BRICS
  • South Africa
  • New Development Bank
  • China

Most Read

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

  • Technology
  • 24 Oct 2025
Arab League chief exposes secret US deal shielding 'Israel’s' nukes

Arab League chief exposes secret US deal shielding 'Israel’s' nukes

  • Politics
  • 27 Oct 2025
Abu Hamza, the spokesperson for the Al-Quds Brigades, during a speech televised on October 22, 2025 (Al-Quds Brigades Military Media)

Al-Quds Brigades' Abu Hamza mourns leaders, vows continued resistance

  • Politics
  • 22 Oct 2025
US missionary kidnapped in Niger capital, suspected taken toward Mali

US missionary kidnapped in Niger capital, suspected taken toward Mali

  • Africa
  • 23 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Delta Air Lines flight lands at Harry Reid International Airport, Wednesday, April 9, 2025, in Las Vegas (AP)
Politics

Nearly 3,800 US flights disrupted amid ongoing government shutdown

FILE - The Amazon logo is pictured at the Amazon Robotic Sorting Fulfillment Center in Madison County, Miss., Aug. 11, 2022. (AP Photo/Rogelio V. Solis, File)
Economy

Amazon to cut 30,000 jobs in largest layoff in company history

Eurofighter Typhoon Spain's Air Force fighter jets fly above the military parade marking 'Día de la Hispanidad', or Hispanic Day, in Madrid, Spain, Sunday, Oct. 12, 2025. (AP)
Politics

UK sells 20 Eurofighter jets to Türkiye in £8bn defense agreement

Smoke billows after drone strikes by the paramilitary Rapid Support Forces (RSF) targeted the northern port in the Red Sea city of Port Sudan, Sudan, May 6, 2025 (AP)
Politics

RSF tightens El Fasher siege as Sudan risks fragmentation: Reuters

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS