Africa Banking Conference Cooperation Development DFI Diplomacy Economy FA Government Infrastructure South Africa

BRICS strengthen economic ties in the post-pandemic era

The 12th annual BRICS Summit, chaired by Russia, will take place today, November 17. Marcos Troyjo, President of the New Development Bank, will report to BRICS leaders on the progress of the Bank’s activities and priorities for the next five years.

The bloc is forging economic cooperation at a time when the COVID-19 pandemic has devastated the world economy, thus the summit will be virtual this year.

China expects the summits to play “important leading roles” in global efforts to strengthen cooperation in fighting COVID-19, facilitate economic recovery and improve economic governance.

Also read: New Development Bank provides South Africa with US$1B COVID-19 loan

BRICS is the acronym for an emerging-market bloc that groups Brazil Russia India China and SouthAfrica.

Graph designed by Zhang Zhijie

The bloc set up the New Development Bank (NDB) in 2015 to finance infrastructure projects in the developing world.

12th annual BRICS Summit
Date: 17 Nov 2020
Time: 2pm (GMT+3)

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