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Brics Bank

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international-relations2 years ago•3 min saved

"BRICS Summit 2023: Key Issues, Global Order, and China's Expansion"

The upcoming BRICS summit in Johannesburg will address key issues such as the expansion of the bloc, with China in favor and Brazil skeptical, while Russia and South Africa seek to bring in new members. Discussions will also focus on boosting local currency fundraising and lending within the New Development Bank (NDB), improving economic ties between the member countries, and engaging with leaders from other countries. The summit will explore opportunities for BRICS and African countries to benefit from the African Continental Free Trade Area.

via Reuters|

#brics #brics-bank #economic-cooperation

international-relations2 years ago•1 min saved

Algeria's Expanding Global Partnerships: BRICS Membership and Chinese Investments

Algeria has applied to join the BRICS group and has submitted a request to become a shareholder member of BRICS Bank with a contribution of $1.5 billion. The country, rich in oil and gas resources, aims to diversify its economy and strengthen its partnership with countries like China. More than 40 countries, including Argentina, Iran, Saudi Arabia, and the United Arab Emirates, have expressed interest in joining the BRICS group. China plans to invest $36 billion in Algeria across various sectors.

via Reuters.com|

#algeria #brics #brics-bank

finance2 years ago•0 min saved

Saudi Arabia in talks to join Brics bank.

Saudi Arabia is in talks to join the China-based Brics bank, which was established in 2014 by Brazil, Russia, India, China and South Africa to finance infrastructure projects in emerging economies. The move comes as Saudi Arabia seeks to diversify its economy and strengthen economic ties with China.

via Financial Times|

#brics-bank #china #economic-cooperation