Can BRICS run a rights-respecting development bank? Can the emerging economic powerhouses of the so-called BRICS - Brazil, Russia, India, China, and South Africa – underwrite development in a way that doesn’t stamp on the rights of people who are supposed to benefit? asks Jessica Evans, a Senior Researcher/Advocate for International Financial Institutions at Human Rights Watch: That’s the big question following an agreement struck at the end of the BRICS summit yesterday to establish the New Development Bank with an initial capital of US$ 100 billion. Headquartered in Shanghai with a rotating presidency, first held by India, the new bank’s stated objective is to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging countries…..
Posted on: Fri, 18 Jul 2014 03:40:17 +0000
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