Media reports on Russian ships call into Ceuta are controversial — embassyRussian Politics & Diplomacy October 26, 22:03
Russia’s telecom watchdog tries to block LinkedIn through courtSociety & Culture October 26, 21:29
DPR envoy reports no constructive discussion on "Steinmeier formula" in MinskWorld October 26, 21:14
Six NATO countries say ready to dispatch their forces to Black Sea areaWorld October 26, 20:43
Moscow refutes allegations about plans for Russian cruiser's call into Spanish portMilitary & Defense October 26, 20:38
US, Israel abstain from UN GA vote condemning Cuba embargoWorld October 26, 20:31
Western sanctions expected to relax gradually in 2017 — ex-finance ministerBusiness & Economy October 26, 20:25
Mark Zuckerberg, Bill Gates intend to see battle for world’s chess crown — FIDE chiefSport October 26, 20:24
Mi-8 helicopter lost in Russia's Yamal was running out of fuel — IACWorld October 26, 20:20
MOSCOW, July 7. /TASS/. Greece can easily receive financing from the New Development Bank established by BRICS, Deputy Finance Minister Sergey Storchak said on Tuesday.
According to him, it will be enough for Greece to buy a couple of shares of the bank to be eligible for funding. He added that this would require a political decision.
"If they buy, so to speak, a few shares and become members of the bank, they will be able to count on the resources. We do not have any co-relation between a contribution and an amount of funding. There is general agreement that the system of the countries’ assets will be balanced," said Storchak.
The Deputy Finance Minister also said that the admission of a new member to the current system is always a political decision.
"Greeks happened to be first who got interested in BRICS bank. As soon as the Institute starts operating, the board of directors will prepare and the board of governors will approve the procedure to consider membership applications from new candidates," he stressed.
Storchak said he "sees no problems" with the approval of Greece’s possible application.
"I do not see any problem if all five governments order their governors to uphold [Greece’s request]," he said.
BRICS member-states established the New Development Bank by an agreement signed on July 15, 2014 in Brazil. The institution was set up to finance infrastructure projects and sustainable development of these and other developing countries.
The new bank will start operating in April of 2016.
The new bank’s charter capital will amount initially to $50 bln with further growth to $100 bln.
The bank will start operating in dollars and then move to a basket of currencies.
The bank is headquarters in Shanghai, China.