The Board of Governors of the New Development Bank, formed by the ministers of finance of the BRICS nations, intends to approve at least $32 billion in loans by 2021, according to the bank's general strategy for 2017-21.

Paulo Nogueira Batista, vice-president and chief risk officer of the NDB, said that the loans include a number of projects growing from 15 in 2017 to 50 in 2021.

"In a more ambitious scenario, the NDB may approve around $45 billion in this period, reaching 75 projects in 2021. This is an already significant volume for a bank that will have completed only six years at end of the period covered by the strategy of the bank," said Batista.