New BRICS Bank

BRICS Launch New $100 Billion Bank, Sign Agreement On $100 Billion Currency Reserve Pool

The BRICS grouping of emerging market nations — Brazil, Russia, India, China, and South Africa — have launched their $100 billion New Development Bank (NDB) — also known as the BRICS bank — and have signed an agreement on their $100 billion currency reserve pool — also known as the Contingent Reserve Arrangement (CRA) — ahead of the summit of SCO and BRICS being held in the Russian … Continue reading →