11:43 GMT29 January 2020
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    Iran plans to join the BRICS Bank, the Iranian Tasnim news agency reported Monday citing an Iranian official.

    MOSCOW (Sputnik) – Iranian Deputy Minister of Economic Development Mohammad Khazaee said at a meeting of a joint Iran-Brazil economic council that Tehran aims to join the BRICS Bank.

    “Iran will join #BRICS Bank: Iranian official,” Tasnim reported on its Twitter account.

    The agreement to establish the BRICS New Development Bank (NDB), with an initial capitalization of $100 billion, was signed by the BRICS member states — Brazil, Russia, India, China and South Africa — during the group's 6th summit in Fortaleza, Brazil, in July 2014.

    The bank was officially launched at the last BRICS summit in the Russian city of Ufa earlier this year.

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    Tags:
    economy, BRICS New Development Bank (NDB), Iran
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