Tuesday, April 16, 2013

BRICS TO SET UP DEVELOPMENT BANK

In a major move aimed at reforming the global financial architecture, finance ministers of BRICS
nations has agreed on the setting up of a development bank to fund infrastructure and development projects in the five-nation grouping of emerging powers. The summit of BRICS nations would set up a Joint Business Council that would seek to encourage free trade and investment in goods and services among the five nation grouping.

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