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NEW DEVELOPMENT BANK ESTABLISHED BY BRICS: PROBLEMS AND PROSPECTS OF ITS ACTIVITY
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NEW DEVELOPMENT BANK ESTABLISHED BY BRICS: PROBLEMS AND PROSPECTS OF ITS ACTIVITY
Annotation
PII
S0321-50750000616-3-1
Publication type
Article
Status
Published
Authors
Vladimir Klishin  Vladimir Pavlov
Edition
Issue №9
Pages
27-30
Abstract
One of the most important strategic objectives of the Russian Federation in the framework of BRICS was to ensure a phased reform of the international monetary and financial system giving the global monetary system more equitable, stable and effective potential, reduce US dominance of the system.At the 6th Summit of BRICS on July 15, 2014 it was agreed to establish a New Development Bank of BRICS (NDB). The priority objective of creating the bank is to mobilize additional resources for investment financing infrastructure projects. Other countries from among the members of the United Nations may be admitted to participate in the capital of the NDB but, in any case, the BRICS countries should at the same time own at least 55% of the total voting shares. NDB headquarters will be located in Shanghai (China), and the first sub-regional office in Johannesburg (South Africa).
Keywords
BRICS, New Development Bank, conditional pool of foreign exchange reserves
Date of publication
01.09.2015
Number of purchasers
1
Views
1197
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0.0 (0 votes)
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1. Novoe napravlenie rossijskoj vneshnej i vneshneehkonomicheskoj politiki - vzaimodejstvie v BRIKS / Koll. avt., otv. red.S.P.Glinkina. M., Institut ehkonomiki RAN, 2014. S. 16. (2014. Novoye napravlenie rossiyskoy vneshney i vnesheneekonomicheskoypolitiki - vzaimodeystvie s BRIKS. M.) (in Russian) 
 2. Strategiya ehkonomicheskogo partnerstva BRIKS. 09.07.2015 -http://brics2015.ru/load/382484 
 3. Kontseptsiya uchastiya Rossijskoj Federatsii v ob'edinenii BRIKS. 9.02.2013 - http://www.kremlin.ru/news/17715 
 4. Articles of Agreement of the New Development Bank -http://brics6.itamaraty.gov.br/images/pdf/BRICSNDB.doc 
 5. Inter-American Development Bank. 2013 Annual Report -www.iadb.org/ar/2013. S. 2. 
 6. African Development Bank. 2013 Annual Report -http://www.afdb.org/fileadmin/uploads/afdb/Documents/Publications/Annual_Report_2013.pdf. S. 7. 
 7. Information Statement. International Bank for Reconstruction and Development. 2014 - http://treasury.worldbank.org/cmd/pdf/InformationStatement.pdf. S. 3.

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