12881
Putin Ratifies BRICS Bank Deal
World Economy

Putin Ratifies BRICS Bank Deal

Russian President Vladimir Putin has signed a law ratifying the deal establishing the BRICS New Development Bank (NDB), according to a document published on Russia’s official website for legal information on Monday, Sputnik reported.
BRICS is a group comprising five countries with major emerging national economies — Brazil, Russia, India, China and South Africa.
BRICS leaders agreed to create the NDB to prompt the development of financial cooperation between the five member countries in 2013
The NDB is expected to become one of the most important institutions of its kind in the world with a stated capital of $100 billion.
The lower chamber of the Russian parliament, the State Duma, ratified the agreement on the NDB establishment on February 20. State Duma Speaker Sergei Naryshkin stated that the bank would fund major infrastructure and innovative projects all over the world.

  Parliamentary Assembly
A parliamentary assembly of the BRICS countries could be established in the near future on Russia’s initiative.
The issue will reportedly be discussed during the upcoming trip to India by Russian State Duma Speaker Sergei Naryshkin and Foreign Affairs Committee Chairman Alexei Pushkov.
“We will begin cooperation to establish a parliamentary assembly of the BRICS countries. This will be one of the issues that will be discussed there,” a source told Izvestia then.
Pushkov declined from passing detailed comment on the source’s statements, but confirmed to Izvestia that Russia is set to “strengthen and give new impetus to inter-parliamentary cooperation within the BRICS format.”

 

Short URL : http://goo.gl/GpNv9f

You can also read ...

Handout picture shows IMF Managing Director Christine Lagarde on a screen as she speaks  during the G20 meeting taking place in Buenos Aires, on July 21.
The International Monetary Fund warned world economic leaders...
French Foreign Minister Jean-Yves Le Drian addresses CEDRE Conference in Paris on April 6, with Lebanese Prime Minister Saad Hariri on his right.
With the FIFA World Cup over and French victory secured,...
Dubai’s new business licenses in the second quarter of 2018 were down 26% from the same period in 2016.
In Dubai’s posh Jumeirah Beach residence district, luxury...
IFC to Inject $2 Billion in Egypt’s Private Sector
International Finance Corporation, a member of the World Bank...
Germany Lifts Turkey Sanctions
Germany has lifted economic sanctions on Turkey and relaxed...
Australia  Faces Massive Economic Crash
Australia is facing an economic shock akin the global...
According to a survey, 75.3% are facing difficulties in running their businesses this year.
South Korea’s major business lobby said Sunday it will file an...
Farnborough Airshow Announces $192b in Orders
England’s Farnborough airshow this week saw deals worth $192...

Trending

Googleplus