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Vnesheconombank to Participate in Implementing Investment Projects within BRICS

26 march 2013 года
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As part of the events of the 5th Summit of the BRICS Nations Heads of State, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, Banco Nacional de Desenvolvimento Economico e Social (BNDES), Export-Import Bank of India (EXIM Bank), China Development Bank Corporation (CDB), Development Bank of Southern Africa Limited (DBSA) – members of the BRICS countries cooperation mechanism entered into Agreements on Cooperation in the city of Durban (the Republic of South Africa).

Under the Agreements the authorized banks are determined to explore the possibility of co-financing projects on infrastructure development on the African continent and join their efforts to coordinate cooperation and share experience in order to ensure sustainable development and adopt ‘Green’ economic policy in the BRICS countries.

The parties will go on working on ecological infrastructure projects including projects aimed at biodiversity and ecosystems protection, natural resources efficient utilization, decreased level of their utilization as well as projects in energy efficiency and renewable sources of energy.

The Agreements’’ implementation would help to enhance financial cooperation between partner banks, advance investments, enhance trade and economic relations, increase the number of projects oriented to sustainable development in the BRICS countries.

BRICS is an international association of emerging countries. It is comprised of Brazil, Russia, India, China, and the Republic of Southern Africa (the latter joined the BRIC association in April of 2011). The BRICS Declaration approved at the 2011 summit provides for cooperation between member states in a number of areas including cooperation on political, financial, social as well as security issues.

 

Press Office of Vnesheconombank
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

 
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