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"The cooperation between Brazil and China is on a solid basis and the relationship between the two countries is extraordinary," Lula said. Lula spoke highly of BRICS cooperation and placed high hopes on the development prospects of the NDB. The New Development Bank is a multilateral development bank jointly established by Brazil, Russia, India, China and South Africa in 2015. It provides investment and financing for infrastructure construction and sustainable development projects in BRICS and other emerging economies and developing countries. The NDB has approved 98 projects in member countries, with a total investment of about US$332.<> billion.
* Over the past decade, Shanghai has been the testing ground for institutional innovation and spearheading high-quality growth, sharing opportunities with the world.
RCEP exhibits showcased at 19th China-ASEAN Expo ecns.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ecns.cn Daily Mail and Mail on Sunday newspapers.