New Development Bank hopes to approve first batch of loans next quarter

SHANGHAI (Reuters) - The New Development Bank will hopefully approve its first batch of loans in the next quarter, bank president K.V. Kamath said on Saturday, speaking at a briefing prior to a signing ceremony for the "BRICS bank" established by Brazil, Russia, India, China and South Africa (BRICS).

(Reporting by Brenda Goh; Editing by Jacqueline Wong)