VLADIVOSTOK (Sputnik) — The NDB was established by BRICS member states in July 2014, to finance infrastructure and sustainable development projects both in BRICS and other developing countries.
"We want to show to Forum, to the Far East and to Russia that we are very committed to the support we potentially can give to the Far East economy development and we want to meet potentially our business partners who are equally interested in the Far East, no matter Russian or others. The last, but not the least, we want to see the opportunities eventually that we can identify, some good projects that we can support, so we can see some concrete results in foreseeable future," Zhu Xian said.
BRICS is an association of five developing economies, including Russia, China, Brazil, India and South Africa, which comprises over one third of the world’s population. The five nations have a combined nominal GDP equivalent to approximately 20 percent of gross world product.