Saudi Arabia is in talks to join the BRICS bank – Kommersant
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Saudi Arabia and the BRICS New Development Bank are in talks to join Riyadh. He may become the ninth member of the organization
New Development Bank said Financial Timeswhich attaches great importance to Saudi Arabia and conducts “competent dialogue” with it. It is noted that a positive decision on this issue will lead to strengthening ties between members of the bank, which created the world’s largest emerging economies as an “alternative to the Bretton Woods institutions led by the West.”
BRICS includes Brazil, Russia, India, China and South Africa. The new development bank began operating in 2015. Its task is to finance infrastructure and sustainable development projects of the BRICS countries. Bangladesh, Egypt, UAE and Uruguay joined the bank in 2021.
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