"In order for Iran’s entry into BRICS to face the least difficulties, it is necessary to take a number of measures, including considering the issue of Iran’s membership in the New Development Bank," the Russian senior diplomat told the Iranian meida on the sidelines of the meeting of the BRICS foreign ministers in Nizhny Novgorod, according to TASS.
"The New Development Bank finances infrastructure projects at reasonable interest rates. I am confident that over time Iran will derive practical benefits from this," Ryabkov said.
The BRICS Council of Foreign Ministers is underway in Nizhny Novgorod on June 10-11. This is the first meeting of foreign ministers after the expansion of the association.
The New Development Bank was established by Brazil, Russia, India, China and South Africa on the basis of an intergovernmental agreement in 2014. The bank’s goal is to mobilize resources for the implementation of investment projects in the BRICS countries and developing countries. Over the years of its operation, the bank has approved more than 90 projects for a total of $32 billion.
MNA
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