Putin: NDB BRICS to approve $3 bln investment projects in 2017

MOSCOW, Sep 1 (PRIME) -- The New Development Bank (NDB) of the BRICS states will approve a second package of investment projects in 2017 totaling U.S. $2.5–3 billion, Russian President Vladimir Putin said in his article published on the presidential Web site late on Thursday.

“Russia is interested in promoting economic cooperation within the BRICS format. Considerable practical achievements have been recently reported in this area, primarily the launch of the NDB,” he said.

“It has approved seven investment projects in the BRICS countries worth around $1.5 billion. This year, the NDB is to approve a second package of investment projects worth $2.5-3 billion in total. I am convinced that their implementation will not only be a boost to our economies but will also promote integration between our countries.”

He also said that the BRICS states should improve cooperation of their businesses through integrating online resources of small and medium-sized businesses.

“Another priority is to build up our cooperation in the area of small and medium-sized enterprises (SME). We believe that we should integrate the national SMEs’ online resources for placing crosslinks and other commercial information and for exchanging data on reliable partners,” he said.

End