BRICS development bank proposed for cooperation (3)

"Money is not a problem," Nandan Unnikrishnan, Vice-president of India's Observer Research Foundation, agreed.

"There are enough savings from China, India, and other countries to put into this bank," he said.

But Nandan said there is one problem, a "philosophical problem" to be solved.

To him, there should be a clear distinction about whether the bank is going to be "in competition" with the IMF and World Bank, or it’s going to be "in cooperation" with them.

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