BRICS leaders meet African counterparts in Durban

Leaders pledged support for African infrastructure and integration alongside international institutional reform.

The Durban statement moved from a feasibility study to an agreed plan for a bank supporting infrastructure and sustainable development; the founding agreement followed in 2014.

The five governments advanced work on a mutual financial safety net for short-term liquidity pressures; a treaty was signed the following year.

The new council linked business communities across the five countries and aimed to encourage trade, investment and job creation.

Leaders endorsed a continuing network of research institutions to inform cooperation and exchange knowledge.

Representatives of the five countries met near Stellenbosch to develop cooperation following the council’s establishment in Durban.

The forum addressed city planning, sustainable urban economies and exchanges among member countries.

At Kleinmond, ministers discussed a cooperation framework in fields such as food security, energy, health and technology transfer.

The leaders emphasized inclusive growth, multilateralism and outreach to other developing countries while approving new financial institutions.

The founding agreement established a bank to mobilize finance for infrastructure and sustainable development in BRICS and other emerging and developing countries.