. To assess the benefits for Russia from the new BRICS development Bank

© RIA Novosti / Evgeny to Betemporary in fotomancer of economic development of Russia Maxim Oreshkin. Archival photo. To assess the benefits for Russia from the new BRICS development Bank© RIA Novosti / Evgeny to Betemporary the image Bank

The new BRICS development Bank will provide additional financial resources and expertise for infrastructure projects, told reporters on the sidelines of the BRICS summit the Minister of economic development of Russia Maxim Oreshkin.

«For Russia, it is additional financial resources and expertise from the perspective of the first infrastructure projects in a wide sense, not only transport and in the sphere of housing and communal services, but also in a whole series of other fields,» he said, speaking about the Bank.

On Wednesday, Vice-President of the Bank and its chief financial officer Leslie Maasdorp told RIA Novosti that the New development Bank will allocate Russia the credit in $ 1 billion for infrastructure projects in 2019. In addition, he announced that the Bank will consider the option of a placement of ruble bonds, if any and denominated investment projects.

On Thursday the President of Russia Vladimir Putin in his speech at the BRICS summit stated that it expects to open offices of the New development Bank in Russia.

A political decision on the establishment of the BRICS New development Bank was made in 2013 at the summit in Durban, South Africa. In 2014 at the next summit in Fortaleza, Brazil signed an agreement on the Bank. The official start of his work was given at the inaugural meeting of the Board of governors of the Bank on 7 July 2015 in Moscow. The main objective of this Institute is to Finance infrastructure projects and sustainable development projects in member countries of BRICS and developing countries.

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