November 16 Russian Deputy Foreign Minister and Coordinator of BRICS Affairs Ryabukov stated that the first ruble loan of the BRICS New Development Bank in Russia is planned to be in place in 2021, which will be in place in 2021.
To a large extent meet the needs of Russian borrowers. He believes that providing ruble loans for large infrastructure projects may become one of the most promising business directions of the BRICS New Development Bank.
Ryabukov also emphasized that the BRICS countries are carrying out corresponding work on connecting the national payment systems of various countries, but this does not necessarily require the establishment of a unified common payment system, but the establishment of related agreements and platforms to enable the BRICS countries to pay The systems are compatible with each other.
The BRICS New Development Bank officially launched operations in July 2015. It is an international financial institution jointly funded by the BRICS countries to provide financing for infrastructure and sustainable development projects in the BRICS and other emerging and developing economies. .
The BRICS countries refer to China, Russia, Brazil, India, and South Africa. The BRICS cooperation mechanism aims to comprehensively develop dialogue and cooperation among the five countries. The 2020 BRICS Summit will be held on November 17 in video format, with the theme of maintaining global stability, common security and innovative growth of the BRICS partnership. Russia is the rotating presidency.
