Agreement on bases in Syria to serve strengthening of stability in Middle East — MPRussian Politics & Diplomacy January 20, 21:18
Trump's inaugural address: When America is united, America is totally unstoppableWorld January 20, 20:57
Hermitage chief: New Palmyra destruction comes across as militants' vengeanceRussian Politics & Diplomacy January 20, 20:29
Russia's first deputy PM wants to keep current tax system for next political cycleBusiness & Economy January 20, 19:53
Russia’s Shipulin clinches gold in 20km individual race of IBU World Cup stage in ItalySport January 20, 19:18
Prominent Russian adventurer Konyukhov to take samples from Mariana Trench floorSociety & Culture January 20, 19:15
Gazprom CEO says North Stream-2 pipeline proves relevanceBusiness & Economy January 20, 19:10
More survivors found in avalanche-hit Italian hotel — mediaWorld January 20, 18:48
Donald Trump takes office as 45th US PresidentWorld January 20, 18:21
MOSCOW, June 4. /TASS/. The first meeting of the Board of Governors of BRICS New Development Bank (NDB) may be held on July 7 in Moscow prior to BRICS summit meeting in the Russian city of Ufa on July 8-10, Director of the International Financial Relations Department of the Ministry of Finance Andrey Bokarev said on Thursday.
The agreement on the establishment of the bank was signed on July 15, 2014 in Fortaleza, Brazil. The main objective of the bank founded by BRICS member-states is to finance infrastructure and sustainable development projects of these states and other developing countries.
"Considering the progress in completing ratification procedures for the New Development Bank, we plan to hold the first meeting of the Board of Governors of the Bank on July 7, where the management of the Bank will be approved," Bokarev said.
The agreement on establishment of the Bank will come into force when all member-nations will complete the ratification procedures.
"Russia and India has already completed the relevant procedures. South Africa and China are to complete this work in June. A notice was received today that both houses of the Brazilian Parliament ratified the agreement and only the signature of the President of the Republic is needed. There are no doubts this will be done in the nearest future," Bokarev said.