Russian DefMin surprised by UNICEF inaction amid growing terrorist activity in SyriaRussian Politics & Diplomacy October 27, 23:14
Russian Defense Ministry: Video of airstrike on Syrian school doctored upRussian Politics & Diplomacy October 27, 21:22
Putin says its too early for him to retireSociety & Culture October 27, 21:10
Putin urges US not to provoke Russia to actively protect national interestsRussian Politics & Diplomacy October 27, 20:20
NATO’s actions create risks to European security — Russian NATO envoyRussian Politics & Diplomacy October 27, 19:52
Putin: Moscow ready to resume gas supplies to Ukraine on prepaid basisBusiness & Economy October 27, 19:47
Putin is sure Russia and Ukraine will find way to end crisisRussian Politics & Diplomacy October 27, 19:32
Refugee crisis demonstrates EU incapacities — Austria’s ex-presidentWorld October 27, 19:08
Putin urges new Marshall Plan for Middle East to see recovery and growthRussian Politics & Diplomacy October 27, 18:30
MOSCOW, June 9. /TASS/. The full launch of the BRICS New Development Bank as well as the Contingent Reserve Arrangement will accelerate the development of high technology industries and active investing, Russia’s State Duma speaker Sergey Naryshkin told the BRICS parliamentary forum in Moscow.
According to Naryshkin, the whole world now needs new prospects for trade and investment, for industrial growth and high-tech development. "I am sure that the full launch of the New Development Bank and the Contingent Reserve Arrangement will speed up these processes," Naryshkin said.
The agreements on the establishment of the New Development Bank and the Contingent Reserve Arrangement were signed on July 15, 2014 at the BRICS summit in Fortalesa (Brazil). The main objective of the bank founded by the association’s member countries is to ensure the financing of infrastructure projects of and sustainable development projects in BRICS and other developing countries.
The Contingent Reserve Arrangement is a framework for the provision of support through liquidity and precautionary instruments in response to actual or potential short-term balance of payments pressures.
Naryshkin recalled that the State Duma, the lower house of the Russian parliament, had ratified both agreements.