New Development Bank to expand use of local currencies

CAPE TOWN, Aug. 30 (Xinhua) -- The New Development Bank (NDB) is aiming to expand the use of local currencies to finance the sustainable development of emerging economies and developing countries, Dilma Rousseff, the bank's president, said on Friday.

Rousseff made the remarks at the opening ceremony on the second day of the 9th NDB Annual Meeting, held under the theme of "Investing in a Sustainable Future" on Aug. 29-31 in Cape Town, the legislative capital of South Africa.