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A man holding a Greek flag walks on central Syntagma square as the parliament is seen in the background, in Athens January 24, 2015.

Greece Explores BRICS Development Bank Membership - Deputy Defense Minister

© REUTERS / Marko Djurica

19:21 06.06.2015(updated 19:35 06.06.2015) Get short URL

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Athens is mulling over the position of a member of the BRICS New Development Bank.

Delegates of the countries members of the BRICS (Brazil, Russia, India, China and South Africa) sign the creation of their new development bank during the 6th BRICS Summit in Fortaleza, Brazil, on July 15, 2014

© AFP 2018 / YASUYOSHI CHIBA

Greece to Escape West’s Chokehold by Joining BRICS Bank - European Lawmaker

MOSCOW (Sputnik), Anna Liatsu — Greece is considering membership in the BRICS New Development Bank (NDB), Greek Deputy Defense Minister Costas Isychos told Sputnik on Saturday.

"[Greece] is discussing its position to be a future member of the Development Bank of the BRICS," Isychos said.

Russia invited Greece to become the bank's sixth member on May 11, but discussions of Athens' ascension into the NDB were not due to start until the BRICS summit in July.

"Greece's bilateral agreement with BRICS countries has to do with what Greece and the BRICS countries are talking about on the question of development projects within Greece," Isychos told Sputnik.

BRICS leaders

© Sputnik / Michael Klimentyev

Russia Invites Greece to Be Sixth Member of BRICS New Development Bank

These discussions are not linked with Greece's outstanding debt to its European and International Monetary Fund lenders, the official said.

The NDB was created in mid-2014 by an agreement between Russia, Brazil, India, China and South Africa. The member states also agreed to establish a $100-billion liquidity reserve to maintain the bank's financial stability.

The bank is expected to become an alternative to Western-dominated financial institutions and will focus mainly on funding infrastructure projects.

Related:: Greece 'Pleasantly Surprised' by Russia’s Invitation to Join BRICS Bank

: Greece Joining Development Bank Off the Agenda Until July BRICS Summit

: Greece Eyes Strengthening Ties With BRICS – Syriza Politician

: Greece Hopes to Increase Global Influence Through BRICS Ties

Tags:

membership, BRICS New Development Bank (NDB), BRICS, Costas Isychos, Greece

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