Russia, Turkey, Iran working on de-escalation zone in Syria’s IdlibRussian Politics & Diplomacy August 17, 16:27
Russian, Egyptian top diplomats to discuss anti-terrorism efforts on August 21Russian Politics & Diplomacy August 17, 16:24
Putin to pay working visit to Sevastopol on August 18Russian Politics & Diplomacy August 17, 16:22
Russian diplomat stresses threats to use military force in Venezuela unacceptableRussian Politics & Diplomacy August 17, 16:19
Mongolia hopes for closer cooperation with RussiaWorld August 17, 16:15
Lavrov to discuss Syria, Ukraine with Vatican secretary of stateRussian Politics & Diplomacy August 17, 16:14
All statues of Lenin pulled down across UkraineSociety & Culture August 17, 16:11
Putin grants Russian citizenship to Australian track cyclist Shane PerkinsRussian Politics & Diplomacy August 17, 16:02
Scientists foresee Russian gene therapy for HIV cure may be registered in 5-10 yearsScience & Space August 17, 15:42
MOSCOW, July 07. /ITAR-TASS/. The Russian government approved on Tuesday draft agreements on a pool of BRICS currency reserves and a new Development Bank.
The documents are expected to be signed at the 6th BRICS summit (Brazil, Russia, India, China and South Africa) in Brazil on July 15-16 with the participation of Russian President Vladimir Putin.
The Agreement on the BRICS currency reserve pool stipulates “the establishment of the mechanism of eliminating current and short-term problems in the balances of payments of the BRICS member states - Brazil, India, China, Russia and South Africa.”
The Russian government has also approved the signing of an Agreement on establishing a new BRICS Development Bank, which stipulates “the creation of a multilateral financial institution".
The Bank’s goal is to “finance infrastructure projects and sustainable development undertakings in the BRICS member states and developing countries.”
The Agreement is open to other UN member states to join it, including developed and developing countries, the document says.
The BRICS summit in the Brazilian city of Fortaleza on July 15-16 will discuss coordination issues. On the eve of the summit, July 14, Russia and Brazil are expected to exchange opinions on the prospects of specific trade, investment and humanitarian projects.