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Russia to prepare innovation finance proposals for new BRICS bank

August 13, 2014, 12:25 UTC+3 MOSCOW
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MOSCOW, August 13. /ITAR-TASS/. The Russian government will prepare proposals to finance innovative projects for the BRICS New Development Bank (NDB) and expand Russia’s cooperation with other countries in innovation and technology by November, goes the Prime Minister Dmitry Medvedev’s decree.

The NDB with the planned authorized capital of 100 billion euros will finance infrastructure projects in the territory of BRICS member countries.

A special section of the decree is devoted to innovation cooperation, in particular expansion of investments in technology transfer. By October 1, the government is to prepare initiatives to support Russian innovation exporters.

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