Putin: BRICS Development Bank does not compete with the IMF and the World Bank – a REGNUM

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St. Petersburg, June 20, 2015, 17:59 – REGNUM Russian President Vladimir Putin believes that the BRICS Development Bank It does not compete with global financial institutions like the World Bank and the International Monetary Fund. On it informs RIA “Novosti” with reference to the speech of the head of state at the St. Petersburg International Economic Forum.

«They (the World Bank and the IMF) have expressed interest in helping Russia and countries (BRICS) in the development of” – Putin said.

Development Bank – an international financial institution, which is controlled by the member countries of the BRICS – Brazil, Russia, India, China and South Africa. The authorized capital of the bank will amount to $ 100 billion, allocated capital – $ 50 billion, paid-in capital – $ 10 billion, paid-on-demand – $ 40 billion.

As noted earlier spetsupolnomochenny the Greek government on the BRICS Panagiotis Roumeliotis, Athens also want to become an active member of the Bank planning to discuss the issue with the Kremlin at the upcoming summit of the BRICS in Ufa.

According to Russian Deputy Finance Minister Sergei Storchak, the first zavedanie Board of Governors of the Bank of BRICS will be held on July 7 in Moscow. “We are preparing the first meeting of the Board of Governors. We hope that it will be held on July 7 in Moscow, “- quoted Storchak portal” guide the economy. ”

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