Putin backs expanding New Development Bank membership and BRICS investment platform
Quick Look
President Vladimir Putin expressed Russia's support for expanding the New Development Bank's membership and creating a BRICS investment platform during a meeting with bank President Dilma Rousseff at the BRICS summit in New Delhi.
AI-generated summary
Why It Matters
The New Development Bank was established by BRICS countries to fund infrastructure and sustainable development projects in emerging economies.
NEW DELHI, September 12. /TASS/. President Vladimir Putin said Russia supports bringing more participants into the work of the New Development Bank of BRICS during a meeting with its President Dilma Rousseff on the sidelines of the BRICS summit.
"We are very pleased that such an instrument was created at the time. We support bringing as many participants as possible into its work, the programs being extensive and covering more sectors of the economies of BRICS member countries," Putin said.
The Russian president also mentioned Moscow’s initiative to create an investment platform for BRICS countries during the meeting. "You know about our proposals to create new platforms, including for investment and digital purposes, to expand the bank’s capabilities and make them more versatile. This would allow the bank, together with its participants and shareholders, to achieve even better results," he said.
What to Watch
AI outlook — possibilities, not facts
The New Development Bank will expand its membership to include additional countries beyond the current BRICS members.
Likely · Within months
A BRICS investment platform for investment and digital purposes will be created to expand the bank's capabilities.
Possible · Within months
Open Questions
- Which specific countries does Russia propose to add to the New Development Bank?
- What is the timeline for launching the proposed BRICS investment platform?
- How will the investment platform be funded and governed?
