BRICS Development Bank began its work in Shanghai

In China's Shanghai, the BRICS Development Bank began to operate - a union that includes, in addition to Russia and China, Brazil, India and South Africa. The first meeting of the board of governors of the new bank was held in Ufa - during the summit of the leaders of the BRICS countries. And the representative of India, Kundapur Vaman Kamath, became the first chairman of the BRICS Development Bank. Reports about it RIA News.

BRICS Development Bank began its work in Shanghai

The contribution of each of the BRICS countries to the development bank amounted to 2 billion dollars, which created the initial paid-up capital of the bank in the amount of 10 billion dollars. In the near future, according to representatives of the BRICS Development Bank themselves, capitalization will increase to 40 billion dollars. The maximum bar under the contract will be 100 billion dollars, which will make the BRICS Development Bank a major financial "player".

However, the development bank is far from “playing”. Its task is assigned the task of financing strategically important infrastructure projects in developing countries. It is important that the financing will be conducted without any consideration of the ratings of Western organizations such as Fitch, S&P, etc.

PRC Minister of Finance Lou Jiwei cites RIA News:

I am confident that under the leadership of Mr. Kamatha and thanks to the joint efforts of all participants of the bank, the BRICS New Development Bank will be able to become a professional, efficient, transparent, multilateral development institution of the new type and will make a significant contribution to the infrastructure construction and sustainable development of emerging economies and developing countries.
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    1. +12
      July 21 2015
      And, thank God, we have what the US and the IMF will answer.
      1. +2
        July 21 2015
        This is a pleasant surprise!
        Expected pleasantness? what
    2. +5
      July 21 2015
      task number once-free medicine of the highest level; and not as "democrats" forced us to pay for everything, task number two is the channel in Nicaragua to neutralize the Panamanian; Well, the defense itself is a subwoofer
      1. +1
        July 21 2015
        I would call task number two a free education system of the highest (USSR-ovsky) level ...
        1. +1
          July 21 2015
          Education is the number one task! After all, doctors must be educated.
    3. +6
      July 21 2015
      So the real struggle began to weaken the dollar.
      Not soon, but a paper wrapper will remain at the back of the world currency.
    4. +1
      July 21 2015
      It happened !!!
    5. +2
      July 21 2015
      Great news! And I was thinking that "steam will blow the whistle"! This bank is financing infrastructure projects that change the appearance and prospects of entire regions, such as the Great Silk Road or the Nicaraguan Canal. And the stability of the financial system of the member states will be greater as a result of any "sanctions".
    6. 0
      July 21 2015
      Fine. You can add only: Faster, higher, stronger, more than billions, and better not dollars! )
    7. 0
      July 21 2015
      Probably the bank has a future and will be, if only everything would be reasonable and bring capital to a trillion Eurasians. Maybe such a currency will be.
    8. 0
      July 21 2015
      Something bad is thrown into the US porridge.
    9. 0
      July 21 2015
      The news is good, but so far the bank’s capital has been denominated in dollars — there are no reasons for triumph.
      In fact, today the right to life of many millions of people on the globe is determined by a green piece of paper, not even worth the paper on which it is printed.
      While on Earth the right to determine the fate of peoples belongs to a handful of people who proclaim the obligation to replace the banknotes of countries corresponding to the goods produced in them with these green wrappers, there will be wars, hunger and poverty in the world.
      But the minds of people covered like a veil, paid for by hard work and sometimes obtained at the risk of their lives: oil, gas, coal, metals, goods produced from all this are transferred to those who type green papers, or even simply type numbers on the keyboard. And there is no boy from Andersen's fairy tale "The Tale of the Naked King" who would wake up the minds of people shouting "but the king is naked", and in this case, "We sell the natural resources of the country for pieces of paper that say that they correspond to a certain amount green papers "
      Not long ago, a table with the national debt of all countries was published on the website and the question was raised: who should they owe to? So their debt is only part of the real goods they consumed for free, produced in countries with high inflation, inflation is the result of diluting the country's currency (secured by goods) unsecured green pieces of paper. The real picture of the world scam is fuzzy, because there are many countries and not everywhere financial discipline is at the proper level, and the movement of goods is fast.
    10. 0
      July 21 2015
      Obama barks - and BRICS is coming !!!
    11. +1
      July 21 2015
      It is interesting why DOLLARS are again invested in an organization called to resist the American financial system ??? !!!

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