Chinadaily.com.cn
     
    Go Adv Search
    BRICS nations agree in extending credit facility

    BRICS nations agree in extending credit facility

    Updated: 2012-03-29 19:17

    By Wu Jiao (chinadaily.com.cn)

      Comments() Print Mail Large Medium  Small 分享按鈕 0

    The BRICS nations on Thursday signed two agreements to provide line of credit to business community and reduce demand for fully-convertible units.

    The leaders of the bloc also decided at the fourth BRICS summit in New Delhi to examine the possibility of setting up a development bank to mobilize resources for projects in the bloc and other developing countries.

    The Brazilian Development Bank, Russia's State Corporation Bank for Development and Foreign Economic Affairs, India's Exim Bank, China Development Bank Corp. and Development Bank of Southern Africa signed the "Master Agreement In Extending Credit Facility" in local currencies and the "BRICS Multilateral Letter Of Credit Confirmation Facility Agreement," a summit document shows.

    The agreements are intended to reduce the demand for fully convertible currencies for transactions among BRICS nations, and thereby help reduce the transaction costs of intra-BRICS trade.

    The currency swap deals, coming as weak global demand is hurting export prospects of some BRICS members, highlights the efforts of emerging economies to drag themselves from impact of the euro-zone debt crisis and boost trade thwarted by chilly growth in developed markets.

    "The agreements signed today by development banks of BRICS countries will boost trade by offering credit in our local currency," Indian Prime Minister Manmohan Singh said.

    The Dehli Declaration issued after the summit also said that the leaders have "considered the possibility of setting up a new Development Bank for mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries."

    The bank, once set up, will supplement the existing efforts of multilateral and regional financial institutions for global growth and development, said the declaration.

    BRICS Finance Ministers are designated to examine the feasibility and viability of such an initiative, and will report back by the next summit, said the declaration.

    South African President Jacob Zuma said the prospect of having a BRICS bank will "have great pontential in helping us create jobs in developing countries."

    Intra-BRICS trade is about $230 billion and has the potential of more than doubling to $500 billion by 2015.

    AV无码一区二区大桥未久| 一本精品中文字幕在线| 无码福利一区二区三区| 日韩A无码AV一区二区三区| 人妻少妇AV无码一区二区| 亚洲午夜无码AV毛片久久| 久久久久亚洲AV无码麻豆| 免费无码又爽又刺激网站直播| 中文字幕一区二区人妻| 成人免费无码H在线观看不卡 | 国产丰满乱子伦无码专区| 中文亚洲欧美日韩无线码| av潮喷大喷水系列无码| 亚洲中文久久精品无码| 久久久这里有精品中文字幕| 中文字幕无码久久久| 人妻少妇精品中文字幕av蜜桃| 精品无人区无码乱码毛片国产| 无码AV波多野结衣久久| 国内精品人妻无码久久久影院导航| √天堂中文www官网在线| 中文有无人妻vs无码人妻激烈| 亚洲AV无码乱码在线观看牲色| 久久久久久久久无码精品亚洲日韩| 无码人妻精品一区二区三区99性 | 无码专区久久综合久中文字幕| 国产精品成人无码久久久久久| 潮喷大喷水系列无码久久精品| 精品久久无码中文字幕| 久久精品aⅴ无码中文字字幕重口| 亚洲AV无码一区东京热久久| 一本色道无码不卡在线观看| 国产又爽又黄无码无遮挡在线观看| 亚洲日韩中文在线精品第一 | 国产成人精品一区二区三区无码| 自拍中文精品无码| 成人午夜精品无码区久久| 红桃AV一区二区三区在线无码AV| 亚洲中文字幕无码永久在线| 亚洲日韩国产二区无码| 无码专区天天躁天天躁在线|