“The New Development Bank will protect the economies of the BRICS”, argues Michoustine – RT in French

Visiting Shanghai to attend an economic forum, the Russian Prime Minister claimed that the New Development Bank of the BRICS was intended to protect the trade of these countries from “illegitimate sanctions” of the West.

The New Development Bank (NBD) aims “to protect the economic and commercial ties of the BRICS countries from the influence and illegitimate sanctions of the West”, Russian Prime Minister Mikhail Mishustin declared on May 23 during a a two-day visit to China.

Speaking to Dilma Rousseff, ex-president of Brazil and president of the New Development Bank since last March, he added that he was convinced that “the relaunch of the bank that you have initiated will be a success and will allow the bank to s adapt to new international realities and respond effectively to the challenges of our time.”

Commercial and energy projects, high technologies, transport infrastructure: the bank should allow the strengthening of investments between the BRICS countries and thus give rise to new growth poles, again according to Mikhail Michoustine.

Recalling that “Russia [avait] was one of the founding members of the BRICS bank in 2014,” Dilma Rousseff wanted to “emphasize that the bank is committed to fulfilling its obligations to all of its founding members.”

The same day, Michoustine met with representatives of the business community. He said that relations with China are getting stronger and welcomed that trade between the two countries has reached 2.2 billion euros. On May 24, the Russian Prime Minister flew to Beijing to meet his Chinese counterpart Li Qiang and Chinese President Xi Jinping.