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BRICS development bank proposed for cooperation

By Lu Hui (

10:57, December 07, 2012

Experts attend Moscow-Delhi-Beijing BRICS video conference in Beijing on Dec. 5, 2012. (Xinhuanet/Fu Peng)

BEIJING, Dec. 6 (Xinhuanet) – The BRICS countries should strengthen intra-BRICS cooperation, said experts, proposing the establishment of a BRICS development bank.

This roadmap came appeared during a Moscow-Delhi-Beijing video conference Wednesday.

By such a development bank, Xu Qiyuan, researcher at the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, said the BRICS countries can work together to shape a new international monetary system.

He added as export-led economies, the BRICS countries feel the impact sharply each time global financial crisis hits.

Drawing on their successful experience of reform, he added, they have to set up such a bank for their common development according to their own conditions.

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