“I’d like to note that a Russian representative will be the first chairman of the [BRICS] Bank. Within our chairmanship we can begin defining the bank’s policies, including those of investment,” Siluanov said during a government meeting with Russian President Vladimir Putin.
On Wednesday, Russia took over the chairmanship of the BRICS group of major emerging national economies, from Brazil.
Earlier in the month, new BRICS Business Council head Sergei Katyrin said that Russia will focus on the launch of the NDB as its chairmanship priority.
The BRICS group of prominent emerging economies was established in 2010, when South Africa joined Brazil, Russia, India and China in what was previously known as BRIC.