The BRICS say goodbye and make their bank. Brazil, Russia, India, China and South Africa have in fact reached an agreement for the creation of a development bank for the joint financing of large infrastructure projects. This was announced on the sidelines of the Durban summit by South African Finance Minister Pravin Gordhan: "It's done," he said in response to a question. “Details will be announced by leaders,” Gordhan said.
The leaders of the BRICS are in fact meeting between today and tomorrow in Durban for the fifth vertex. The South African press had reported yesterday of differences between the five countries on the plan for the new Bank, on which the ministers were working, but apparently the institute will build and should above all support the development of infrastructure, with an initial capital of 50 billions of dollars.
In short, it is yet another sign of a two-speed world: that of the Old Continent and North America which is struggling, and that of young countries, full of resources and fresh energy which from now on will be channeled and optimized thanks to a new instrument that separates itself from Western finance.
