23rd March, 2016
BRICS Logo
India assumed BRICS Chairmanship from the Russian Federation for the year 2016.
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| BRICS |
This logo is painted in BRICS country’s colors and symbolizing India’s national flower.
India will comprise of Institution Building, Implementation, Integration, Innovation, and Continuity with Consolidation in the coming summit.
BRICS:
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| Brazil, Russia, India, China, South Africa |
The BRICS members are all developing or newly industrialized countries, but they are distinguished by their large, fast-growing economies and significant influence on regional and global affairs.
Bilateral relations among BRICS nations have mainly been conducted on the basis of non-interference, equality, and mutual benefit (win-win).
New Development Bank (BRICS Bank)
The bank's primary focus of lending will be infrastructure projects with authorized lending of up to $34 billion annually.
Headquarter at Shanghai, China. South Africa will be the African Headquarters of the Bank named the "New Development Bank Africa Regional Center". The bank will have starting capital of $50 billion, with capital increased to $100 billion over time.
BRICS Contingent Reserve Arrangement
It is a framework for providing protection against global liquidity pressures.
This includes currency issues where members' national currencies are being adversely affected by global financial pressures.
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