News agency Russia Today (RT) reports:
Russian President Vladimir Putin has signed a law ratifying the deal establishing the BRICS New Development Bank (NDB), according to a document published on Monday on Russia’s official website for legal information.
The BRICS New Development Bank (NDB) was set up to challenge two major Western-led giants – the World Bank and the International Monetary Fund. NDB’s key role will be to serve as a pool of currency for infrastructure projects within a group of five countries with major emerging national economies – Russia, Brazil, India, China and South Africa.
My (Ghost´s) comment: Though it ought to be considered as important news that five of the world´s major economies have created a new development bank, I have not seen or heard it reported in Swedish media. Putin signed the law eight days ago and RT published the news the same day, but radio, TV and newspapers don´t seem interested.
Background (text and video):
The new development bank is becoming a concern för the USA. In the end of 2014 Jordan Totten warned on forbes.com (describing itself as ”information for the world´s business leaders):