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Brazil wants to create guarantee mechanisms to increase investments in BRICS

Russian Finance Minister Anton Siluanov noted that this is also an important area of joint work

RIO DE JANEIRO, July 4. /TASS/. Brazil suggests creating guarantee mechanisms to scale up investments in BRICS countries, Russian Finance Minister Anton Siluanov told reporters after the meeting of the Board of Governors of the BRICS New Development Bank.

"The Brazilian side introduced new points into the list of issues we are discussing. Our counterparts suggest creating guarantee mechanisms for BRICS member-countries. This is also an important area of our joint work. We support this mechanism and believe we should go forward for all mechanisms that will work to the benefit of our countries," the minister said.

The consensus will be found for an agreement on an insurance instrument in conclusion of the meeting of BRICS finance ministers tomorrow, Siluanov noted. "Other mechanisms proposed by the Russian Federation, which we have just talked about, are in the course of consideration," he added.

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