KAZAN, October 23. /TASS/. The BRICS countries welcome the initiative to create a new investment platform that will make it possible to use the infrastructure of the New Development Bank (NDB) as effectively as possible to attract investment, according to the Kazan Declaration of the association's summit.

"We encourage the Bank to follow member-led and demand-driven principles, the employment of innovative financing mechanisms to mobilize financing from diversified sources, and in this regard, we acknowledge the initiative to create new investment platform to leverage the existing institutional infrastructure of the NDB to boost the investment flow into the countries of BRICS and the Global South mechanisms," the declaration says.

The BRICS states agreed to jointly develop the New Development Bank into a new type of multilateral development bank (MDB) in the 21st century.

"We urge the Bank to execute its purpose and functions in accordance with the Articles of Agreement of the New Development Bank in a fair and non-discriminatory manner. We support the further expansion of NDB membership and expedited consideration of applications of BRICS countries in line with the NDB General Strategy and related policies," the document says.