Russia's President Vladimir Putin delivers a speech as he attends the VI BRICS Summit in Fortaleza July 15, 2014. REUTERS/Paulo Whitaker
BRASILIA (Reuters) - India will hold the presidency of the new BRICS development bank for five years, a senior official involved in the negotiations said on Tuesday.
The source added Brazil is expected to be the second country to hold the bank's presidency, according to a preliminary agreement between the members of the group which also includes China, Russia and South Africa.
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