BRICS Development Bank can finance first project this year - Russian Foreign Ministry

MOSCOW, February 18. /TASS/. The Development Bank of the BRICS (Brazil, Russia, India, China and South Africa) grouping of the world’s leading emerging economies can finance its first project already this year, Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday. "We expect that the bank [the BRICS Development Bank] can finance its first project already this year. Possibly, this will be a project in the sphere of green energy or energy efficiency," the diplomat said. The term of Russia’s rotating presidency in the BRICS ended on February 15, the spokeswoman said, adding that Moscow was satisfied with its results. "Contrary to the spreading information that BRICS is not what it used to be and that the association is not needed, it has proved its worth and working efficiency," Zakharova added. Read more