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    President of the Russian Federation Vladimir Putin during the signing of joint documents following the BRICS leaders meeting

    BRICS Development Bank to Bankroll Large-Scale Energy Projects - Putin

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    2015 BRICS, SCO Summits in Russia's Ufa (73)
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    Vladimir Putin said that BRICS Bank has various opportunities for development ahead.

    UFA (Sputnik) – The BRICS New Development Bank will handle loans for projects in energy and transportation, Russian President Vladimir Putin said Thursday after the BRICS summit.

    “During the expanded session we welcomed the completion of the process of creating the New Development Bank and the Pool of Currency Reserves with a total volume in resources at $200 billion. They will begin functioning soon at their full potential. The New Development Bank, in particular, will handle loans for large-scale joint projects in the transportation and energy infrastructures as well as in industrial development.”

    The BRICS countries will work out a roadmap for investment cooperation by the end of the year, Vladimir Putin added.

    "We plan to develop a long-term list of specific projects, the so-called roadmap of investment cooperation by the end of the year," Putin told journalists after a BRICS summit session. 

    2015 BRICS, SCO Summits in Russia's Ufa (73)


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