The BRICS development institutions have signed an agreement on the principles of responsible financing developed by Russia's national economic development institution, VEB.RF, during the financial forum of the BRICS Interbank Cooperation Mechanism, a Sputnik correspondent reported on Monday
MOSCOW (Pakistan Point News / Sputnik - 16th November, 2020) The BRICS development institutions have signed an agreement on the principles of responsible financing developed by Russia's national economic development institution, VEB.RF, during the financial forum of the BRICS Interbank Cooperation Mechanism, a Sputnik correspondent reported on Monday.
"The most important outcome of Russia's [BRICS] presidency will be a memorandum on the principles of responsible financing. This document contains eight principles and will allow our organizations to stimulate quality investments, investments with the positive economic, social and environmental impact on society, as well as promote responsible behavior," VEB.RF Chairman Igor Shuvalov said while addressing the forum.
According to the chairman, these principles are based on the international standards of the Organization for Economic Co-operation and Development, the UN and the World Bank, and developed with the assistance of experts from the Russian Presidential Academy of National Economy and Public Administration.
