Russia, China round up joint naval exercise in Baltic SeaMilitary & Defense July 27, 21:27
Chechen leader says he is ready to quit his job to protect al-Aqsa Mosque in JerusalemSociety & Culture July 27, 21:07
Russian tennis star Sharapova granted wildcard for WTA tournament in CincinnatiSport July 27, 20:11
Russia invites Baltic partners to attend naval review in St. PetersburgMilitary & Defense July 27, 19:38
Russia’s new ambassador to Turkey presents his credentials to ErdoganRussian Politics & Diplomacy July 27, 19:03
Deadly wildfires in southern EuropeWorld July 27, 18:20
Russia interested in cooperation with Finland on Arctic environmentBusiness & Economy July 27, 18:14
New US anti-Russia sanctions way to pursue its economic interests with cynicism — PutinRussian Politics & Diplomacy July 27, 18:11
Moscow surgeons separate newborn Siamese twins conjoined at head in 30 minutesSociety & Culture July 27, 17:57
MOSCOW, February 15. /TASS/. Russia expects the New Development Bank BRICS (NDB BRICS) to take a decision on granting funds for implementation of joint projects of its member-states in the nearest future, Russian Deputy Foreign Minister Sergey Ryabkov said in an interview aired by the Rossiya-24 TV news channel on Monday.
"The financial and economic block [of BRICS - TASS] has been seriously increased. Currently we’re developing a roadmap for trade and economic cooperation, Russia has submitted over 30 proposals. I expect decisions to be made regarding allocation of funds for implementation of such projects, including in Russia, through the New Development Bank BRICS in the nearest future," he said.
The New Development Bank BRICS is a multilateral development bank operated by the BRICS states (Brazil, Russia, India, China and South Africa) as an alternative to the existing US-dominated World Bank and International Monetary Fund. The Bank with initial capital totaling $10 bln, is set up to foster greater financial and development cooperation among the five emerging markets. It will be headquartered in Shanghai.
According to Deputy Finance Minister Sergey Storchak, BRICS New Development Bank is considering an opportunity of extending loans to Russian hydropower projects.
"Two or three projects are in place. In the hydropower energy sector. These are startups," the official said.
An opportunity of lending "amounting to several hundred million dollars" is viewed, Storchak said.
The New Development Bank BRICS is a multilateral development bank operated by the BRICS states as an alternative to the existing US-dominated World Bank and International Monetary Fund. The financial institution headquartered in China’s Shanghai is set up to foster greater financial and development cooperation among the five emerging markets.