MOSCOW: Leaders of the Brics nations will launch their long-awaited development bank at a summit next week and decide whether the headquarters should be in Shanghai or New Delhi, Russian Finance Minister Anton Siluanov said on Wednesday.
The creation by Brazil, Russia, India, China and South Africa of a US$100bil bank to finance infrastructure projects has been slow in coming, with disagreements over its funding, management and headquarters.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!