Iran has expressed a strong interest in joining the BRICS New Development Bank (NDB), recognizing its significant role in uniting member states. This statement was made by Mohammad Reza Farzin, the Governor of Iran's Central Bank, following a meeting of BRICS finance ministers and central bank governors in Moscow.
Farzin emphasized that the BRICS New Development Bank could meet the development needs of many member countries, contrasting it with the World Bank, which he claimed serves primarily US and Western interests. He added that Iran aims to become a member of the NDB.
The BRICS NDB was established in July 2014 during the VI BRICS Summit in Fortaleza, Brazil. Its mission is to fund infrastructure and sustainable development projects across BRICS countries and other developing nations. With a capital of $100 billion and a long-term credit rating of AA+ from S&P Global Ratings, the bank is well-positioned to attract long-term financing in both international and local capital markets.
GSV "Russia - Islamic World"
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Based on TASS materials