The BRICS group is still young as an organization, but has already proven its effectiveness. Brazil, Russia, India, China, and South Africa are coordinating their policies on key international issues ever more closely, and are playing an active part in shaping a multipolar world order and developing modern models for the world’s financial and trading systems.
The New Development Bank set up by the BRICS group of major emerging economies plans to raise up to 500 million via rupee-denominated masala bonds in the second half of the year, the bank's president, K.V. Kamath
The Far East Development Fund, a Moscow-mandated financial institution, is partnering with China's State-owned enterprises to create two joint investment funds to tap into the rich but still underdeveloped eastern part of Russia, according to the fund's chief