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Russia: BRICS bank to prioritise members' infrastructure projects - Russian FinMin Siluanov02:11

Russia: BRICS bank to prioritise members' infrastructure projects - Russian FinMin Siluanov

Russian Federation, Moscow
July 7, 2015 at 15:14 GMT +00:00 · Published

The New Development Bank, known as the BRICS bank, expects to concentrate first on projects that are related to the development of infrastructure in BRICS member states, Russian Finance Minister Anton Siluanov said at a press conference in Moscow on Tuesday.

Siluanov added that he expects the bank to receive a credit rating "in the near future" and the allocation of financial resources to take place by the end of the year. The Russian finance minister also said that although specific projects had not yet been selected, a Rosneft project "will definitely be interesting for the new development institute."

Siluanov went on to note that Greece has not requested a loan from Russia.

Siluanov's remarks come a day before the BRICS summit in Ufa.

Russia: BRICS bank to prioritise members' infrastructure projects - Russian FinMin Siluanov02:11
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The New Development Bank, known as the BRICS bank, expects to concentrate first on projects that are related to the development of infrastructure in BRICS member states, Russian Finance Minister Anton Siluanov said at a press conference in Moscow on Tuesday.

Siluanov added that he expects the bank to receive a credit rating "in the near future" and the allocation of financial resources to take place by the end of the year. The Russian finance minister also said that although specific projects had not yet been selected, a Rosneft project "will definitely be interesting for the new development institute."

Siluanov went on to note that Greece has not requested a loan from Russia.

Siluanov's remarks come a day before the BRICS summit in Ufa.