Representatives of Brazil, Russia, India, China and South Africa (members of the group called BRICs) approved today (25), in Durban (South Africa), the creation of a bank for the region. The institution aims to assign resources for infrastructure and sustainable projects in the area of the BRIC countries and also other emerging economies. The subject is the theme of the summit that brings together presidents and prime minister of India from tomorrow (26).
To the representatives of the BRICs, the bank should be created to differentiate themselves from the World Bank and the International Monetary Fund (IMF). The secretary general of the South Africa Congresso f Trade Unions, Zwelinzima Vavi, said the expectation is that the new bank takes decisions by consensus, adopt its own currency and develop trade into members of Brics.
From Agência Brasil