Brazil's Troyjo to be new head of BRICS bank; SBI's Anil Kishora vice-prez

The decisions were made on Wednesday at a special meeting of the Board of Governors in accordance with the Articles of Agreement of the NDB and its procedures, a press release from the bank said

The New Development Bank of the BRICS countries on Wednesday appointed Marcos Prado Troyjo, who served as Brazil's Economy Minister, as the new president of the Shanghai-based bank.

He will replace eminent Indian banker K V Kamath who took over as the first president of the bank in 2015.

The Board also appointed Anil Kishora, of the State Bank Of India (SBI), as the vice president of the NDB to assist the emerging economies in infrastructure development loans.

The decisions were made on Wednesday at a special meeting of the Board of Governors in accordance with the Articles of Agreement of the NDB