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BRICS: $100bn sustainable development bank launched by worlds largest developing economies

2014-07-20 17:41:00| Climate Ark Climate Change & Global Warming Newsfeed

Blue and Green: The BRICS group, made up of Brazil, Russia, India, China and South Africa, have established their own international bank, to promote sustainable investment and to act as an emergency reserve. The bank will be based in Shanghai and its first president will be from India, the group announced. In a declaration, the nations said, BRICS continue to face significant financing constraints to address infrastructure gaps and sustainable development needs. With this in mind, we are pleased to announce...

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