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BRICS Development Bank announced with $100 billion

It probably isn't surprising that the BRICS (Brazil, Russia, India, China and South Africa) should fulfill their promise or threat to create their own development bank. They have been arging for many years for the World Bank and IMF to change their voting rules to increase the number of votes for developing countries without much advancement.

This new development bank will be based in Shanghai in China it was also announced that the first president for the bank will come from India. 

the Bank will initially have a fund of $50 billion and will focus on supporting infrastructure projects in developing countries. As the Fortaleza Declaration from the 6th BRICS Summit says:

"We, the leaders of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa, met in Fortaleza, Brazil, on 15 July 2014 at the Sixth BRICS Summit. To inaugurate the second cycle of BRICS Summits, the theme chosen for our discussions was “Inclusive Growth: Sustainable Solutions”, in keeping with the inclusive macroeconomic and social policies carried out by our governments and the imperative to address challenges to humankind posed by the need to simultaneously achieve growth, inclusiveness, protection and preservation.

 In the aftermath of the first cycle of five Summits, hosted by every BRICS member, our coordination is well established in various multilateral and plurilateral initiatives and intra-BRICS cooperation is expanding to encompass new areas. Our shared views and commitment to international law and to multilateralism, with the United Nations at its center and foundation, are widely recognized and constitute a major contribution to global peace, economic stability, social inclusion, equality, sustainable development and mutually beneficial cooperation with all countries."


This continues to show the leadership that is now coming from key developing countries in the post Rio+20 landscape and offers real hope for the post 2015 agenda being implemented. 

Comments

  1. It is the absence of a just, sustainable, and therefore, stable international monetary system that the global economy and commerce are not functioning well, because it is the international monetary system as glue binds together the monetary, financial, economic and commercial systems.
    The establishment of the BRICS bank and its large reserve fund is a step in the right direction because it constitutes “a major contribution to global peace, economic stability, social inclusion, equality, sustainable development and mutually beneficial cooperation with all countries." Hopefully, the BRICs cooperation of greatly diverse societies sets the example for the EU, US and other nations to start collaborating in those areas that really matter, such as an effective international monetary system, rather than going their own separate ways.
    One way to bring such monetary system about is to base it on a carbon standard of specific tonnage of CO2e per person, so that the looming climate catastrophe can be avoided and low-carbon, climate resilient development can be pursued. The conceptual, institutional, ethical and strategic dimensions of such approach is presented in Verhagen 2012 “The Tierra Solution: Resolving the climate crisis through monetary transformation” and updated at www.timun.net.

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  2. INTERNATIONAL CONCEPT OF WORK FROM HOME
    Work from home theory is fast gaining popularity because of the freedom and flexibility that comes with it. Since one is not bound by fixed working hours, they can schedule their work at the time when they feel most productive and convenient to them. Women & Men benefit a lot from this concept of work since they can balance their home and work perfectly. People mostly find that in this situation, their productivity is higher and stress levels lower. Those who like isolation and a tranquil work environment also tend to prefer this way of working. Today, with the kind of communication networks available, millions of people worldwide are considering this option.

    Women & Men who want to be independent but cannot afford to leave their responsibilities at home aside will benefit a lot from this concept of work. It makes it easier to maintain a healthy balance between home and work. The family doesn't get neglected and you can get your work done too. You can thus effectively juggle home responsibilities with your career. Working from home is definitely a viable option but it also needs a lot of hard work and discipline. You have to make a time schedule for yourself and stick to it. There will be a time frame of course for any job you take up and you have to fulfill that project within that time frame.

    There are many things that can be done working from home. A few of them is listed below that will give you a general idea about the benefits of this concept.

    Baby-sitting
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    For those who have a garden or an open space at your disposal and are also interested in gardening can go for this method of earning money. If given proper time and efforts nursery business can flourish very well and you will earn handsomely. But just as all jobs establishing it will be a bit difficult but the end results are outstanding.

    Freelance
    Freelance can be in different wings. Either you can be a freelance reporter or a freelance photographer. You can also do designing or be in the advertising field doing project on your own. Being independent and working independently will depend on your field of work and the availability of its worth in the market. If you like doing jewellery designing you can do that at home totally independently. You can also work on freelancing as a marketing executive working from home. Wanna know more, email us on workfromhome.otr214426@gmail.com and we will send you information on how you can actually work as a marketing freelancer.


    Internet related work
    This is a very vast field and here sky is the limit. All you need is a computer and Internet facility. Whatever field you are into work at home is perfect match in the software field. You can match your time according to your convenience and complete whatever projects you get. To learn more about how to work from home, contact us today on workfromhome.otr214426@gmail.comand our team will get you started on some excellent work from home projects.


    Diet food
    Since now a days Women & Men are more conscious of the food that they eat hence they prefer to have homemade low cal food and if you can start supplying low cal food to various offices then it will be a very good source of income and not too much of efforts. You can hire a few ladies who will help you out and this can be a good business.

    Thus think over this concept and go ahead.



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