BRICS contingency fund
Source: Xinhua |
July 2, 2015, Thursday
|
Print Edition
Print Edition
A BRICS contingency fund will be operational in 30 days, the Brazilian foreign ministry said on Tuesday.
All five member countries are contributing to the US$100 billion fund, with China being the leading contributor with US$41 billion, Brazil, Russia and India with US$ 18 billion each, and South Africa with US$5 billion.
“It will complement the current global network of financial protection,” the ministry said.
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