РИА Новости21 minutes agoBusiness1 min readRussia

Putin proposed creating a BRICS investment platform

The new initiative is designed to attract private capital to key sectors of the member countries of the association

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Russian President Vladimir Putin at the BRICS business forum in New Delhi announced the creation of an investment platform based on the New Development Bank.
The goal of the initiative is to attract private investment in the infrastructure and technology of the BRICS countries to increase their competitiveness.

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Why It Matters

BRICS is an interstate association founded in 2006. The New Development Bank is a financial institution created by the BRICS countries to finance infrastructure projects.

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NEW DELHI, September 11 - RIA Novosti. The BRICS investment platform will make it possible to attract additional private funds into infrastructure, technology and other sectors that determine the competitiveness of the states of the association, said Russian President Vladimir Putin.

Putin arrived in India on a three-day working visit. The Russian leader took part in the BRICS business forum in New Delhi. During a plenary meeting of the BRICS Business Council, Putin announced that Russia plans to create an investment platform on the basis of the New Development Bank.

“It (the platform - ed.) should help attract additional private funds to infrastructure, technology and other sectors that determine the competitiveness of our states. We hope that this idea will find support among the participants of our association,” the head of state said at the meeting.

BRICS is an interstate association created in 2006 by Russia, China, India and Brazil; South Africa joined it in 2011. Since the beginning of 2024, a number of more countries have joined BRICS. India will preside over BRICS in 2026.

Open Questions

What is the planned capital of the platform?
What are the specific mechanisms for the participation of private investors?