BRICS: $100bn sustainable development bank launched by world’s largest developing economies

Posted by Blue and Green: None Given on July 20th, 2014
Blue and Green: The BRICS group, made up of Brazil, Russia, India, China and South Africa, have established their own international bank, to promote sustainable investment and to act as an emergency reserve. The bank will be based in Shanghai and its first president will be from India, the group announced. In a declaration, the nations said, “BRICS continue to face significant financing constraints to address infrastructure gaps and sustainable development needs. “With this in mind, we are pleased to announce......

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