While the political motivations for the initiative are easy to - TopicsExpress



          

While the political motivations for the initiative are easy to identify, the economic benefits are much harder to pin down. I am skeptical that the BRICS Bank will be an effective development institution or rescue facility, and see serious risks that its good ambitions could be undermined by poor investments, bad policies, and even corruption. Instituting a global development agenda—identifying and implementing projects, monitoring against corruption, measuring the impact—takes extraordinary institutional capacity, something that will take decades for the new bank to develop.Part of the motivation for a new development bank is to meet an unfilled need for development projects the World Bank and regional development banks cannot or will not fund.
Posted on: Wed, 16 Jul 2014 06:55:59 +0000

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