BRICS group plans development bank

03/26/2013 | Bloomberg · Deutsche Welle (Germany) · (Russia)

To energize the BRICS group, Brazil, Russia, India, China and South Africa are working to create a development bank along the lines of the World Bank and the International Monetary Fund. Chinese President Xi Jinping is scheduled to participate in a BRICS meeting this week in Durban, South Africa, and is expected to propose locating the bank in Shanghai.

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Bloomberg · Deutsche Welle (Germany) · (Russia)

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