New Delhi. Ongoing BRICS Summit in Brazil is a good news for developing countries. Now one of the BRICS bank which will serve as the World Bank and the International Monetri Fund. The bank's head quarters in Shanghai of China and India will have its first chair. Bank of Russia will be the first Chairman of the Board of Governors. Brazil will be the first Chairman of the Board of Directors. The Bank also set up a regional center in South Africa.
BRICS countries (Brazil, Russia, India, China and South Africa), the bank's capital to 100 billion (approximately six lakh crore) would be $.But the initial capital will be $ 50 billion, equal to all member countries will cooperate. All five BRICS 20-20 billion dollars in the bank's capital in the country will start. The money will help the BR
ICS countries in times of crisis! Global financial security will be strengthened as well.She spoke in a tone that all Member States finance ministers on the modalities of operation of the bank will be instructed to start work soon.
Prime Minister Narendra Modi said that the BRICS Development Bank member countries will benefit not only the developing world as well as to other countries that would help. PM Modi said that the bank would work to protect the economic instability.
Brix PM Modi, while addressing the conference condemned terrorism in the strongest terms. He said that terrorism will not be tolerated under any circumstances. I firmly believe that terrorism in any form and get in shape against humanity. We will choose who will decide the future of the world. From Afghanistan to Africa, the region is undergoing turmoil and conflict. Which countries are all facing, onlookers will have serious implications on their condition. Modi as PM Atnkbad eliminate all focused on the economy and he said that we belong to a territory where the values of Vasudhaiva kutumbakam importance. The world and all inclusive because we believe in evolution.
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