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Greece wants to join the BRICS New Development Bank

brics-The New Development Bank

It appears that Greece would like to be a part of the BRICS New Development Bank. However, this has to be discussed officially.

According to Russian presidential advisor, this has been mentioned in the mass media but it hasn’t been discussed officially.

First, the bank has to begin with its own line of business and then other issues will be discussed.

The New Development Bank will be dealing with financing of infrastructure projects and sustainable development of the BRICS countries and other emerging economies.

It was agreed on July 15, 2014 in BRICS summit in Fortaleza, in Brazil,  that this bank will be set up.

Ushakov stated that NDB has to function on its own for a while and then admission of new countries will be discussed.

Greece has received an invitation from Russia to become an NDB member in May. During the BRICS summit in the Russian city of Ufa on July 8-9, further discussion about Athens’ membership in the bank will take place.

Energy Minister Panagiotis and Deputy Defense Minister Kostas Isychos have revealed that Greece is interested in joining the new institution.



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