BRICS countries decided on the city, which will house the new headquarters of the Development Bank
Shanghai – a major financial center in east China – officially declared a city that will house the new headquarters of the New Development Bank. The new bank will be one of the largest such institutions in the world. The BRICS Bank provides equal distribution of capital shares and management rights.
When the New Development Bank wants to create additional funds, including the Chinese capital. This was announced today, Finance Minister Anton Siluanov.
BRICS Bank – 10 billion dollars,
$ 2 billion each brings
country for 7 years, – he said. – AT
Funds means may be at a bank
investors, which can also be
directed projects"- he added
All decisions will be
taken by a special majority,
alleged support of four of the
five representatives of the States, or
two-thirds vote. earn Bank
may in the next year, if all
participants will have time to ratify
the necessary documents and provide
in the budget the necessary funds.
It is expected that the bank will
finance infrastructure projects
The participating countries.
"Bank to open one
adoption of new participants from the
UN members, an agreement such
that the share of BRICS will not fall below
55 percent. That is, control in any
the case will be for the BRICS", – said
Anton Siluanov earlier.
The reserve fund of the new
Bank planned in the amount of 100 billion
US $ 41 billion – in China, for 18
billion – Brazil, India and
Russia, $ 5 billion – in South Africa.
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