Multilateral development banks

China's parliament ratified an agreement with the world's largest emerging nations on July 1 to create a new development bank, state news agency Xinhua reported. 

The New Development Bank, also known as the BRICS Bank, is one of two international development banks that China is promoting as an alternative to western institutions such as the World Bank. 

Countries from five continents formally signed up on June 29 to the China-led Asian Infrastructure Investment Bank -- a potential rival to the Washington-based World Bank -- as Beijing steps up its global diplomatic and economic role.

The Australian government on June 24 said it would contribute A$930 million ($718.9 million) over five years to the new China-led Asian Infrastructure Investment Bank (AIIB), making it the  institution's sixth largest shareholder. 

Transportation Minister Ioan Rus will meet European Commissioner for Mobility and Transport Violeta Bulc on Thursday in Brussels; Romania's Transport Master Plan and current topics of the EU transportation policy are on the table.

Photo credit: (c) Liviu SOVA / AGERPRES ARCHIVE

High level representatives of development finance institutions, long-term investors and major multilateral financial institutions gathered in Istanbul on May 26 on the occasion of the third D-20 conference. 

The World Bank Group is allocating USD 1.2 B to Albania under the 2015-2019 Country Partnership Framework (CPF), the international institution has announced.

This is a substantial share of its GDP, which amounted to about USD 13.6 B in 2014 according to national statistics.

Japan will announce a $100 billion plan to invest in roads, bridges, railways and other building projects in Asia, a report said May 19, weeks after China outlined its vision for a new infrastructure development bank in the region.

Indian private banker K.V Kamath was named May 11 as the first head of a new development bank being set up by the so-called emerging BRICS nations, officials said.

The European Investment Bank (EIB) plans to invest around 2.5 billion euros in Turkey this year, EIB Vice Chairman Pim Van Ballekom has said in a special interview with Hürriyet Daily News. 

"EPS blocks Serbian companies from bidding"

BELGRADE -- The Anti-Corruption Council called on Monday for an inquiry into why EPS "blocked domestic companies from bidding in the tender for smart meters."

EPS (Electric Power Industry of Serbia) is a public company.