New Development Bank and FAO sign cooperation memorandum

The agreement prepared an office in São Paulo to identify and support sustainable-development projects across the Americas; it did not itself open the office.

At the tenth summit, leaders placed Africa, inclusive growth and the Fourth Industrial Revolution at the centre of the agenda.

The Johannesburg Declaration said African states remained inadequately represented in the United Nations, especially in peace and security decision making.

Leaders endorsed dialogue with African and other developing-country partners, distinct from admitting new BRICS members.

Ministers set out cooperation on information and communications technologies and digital inclusion.

The agreement with Russia provided for a Moscow-based centre to identify projects and strengthen the bank’s regional presence; its opening was a later step.

The eleventh summit addressed economic growth, innovation, multilateralism and cooperation among the five members.

The bank’s board approved a RMB 7 billion emergency programme loan to help address the health and economic effects of COVID-19.

The RMB 5 billion bond was issued to finance the emergency assistance programme for China, connecting capital raising to pandemic response.

The bank’s board approved a US$1 billion emergency loan, later fully disbursed, to support India’s response to COVID-19.