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New Development Bank to provide financial support for epidemic-hit Chinese provinces

SHANGHAI, Feb. 15 (Xinhua) -- The BRICS New Development Bank (NDB) will provide emergency financing support for three Chinese provinces to fight against the novel coronavirus outbreak, according to the bank.

The bank's vice president Zhu Xian said the three epidemic-stricken provinces are Hubei, Guangdong and Henan.

The financing support covers not only public health expenditures related to the anti-epidemic fight, but also financial gaps in the urgent purchase of medical and health supplies, the construction of hospitals and isolated facilities and the production of anti-epidemic supplies.

Zhu said the NDB will speed up its work procedure to offer their support.

The NDB said Tuesday in a statement that it is fully committed to supporting China in its time of need. It highly appreciates China's great efforts and effective measures aimed at curbing the spread of the novel coronavirus.

The NDB was established by Brazil, Russia, India, China and South Africa. The bank formally opened on July 21, 2015 in Shanghai.