Kazan declaration calls for greater developing-country voice at the UN

A US$1 billion loan supported water supply and sanitation infrastructure in municipalities, addressing basic service gaps.

At their ninth annual meeting, governors discussed sustainable investment and the bank’s development priorities in its African host country.

A R5 billion agreement aimed to modernize South Africa’s freight rail system and improve logistics.

The leaders placed more representative global governance, sustainable development and cooperation among the expanded membership at the centre of the summit.

The Kazan Declaration endorsed modalities for a category through which other emerging and developing countries could cooperate without becoming full members.

The declaration welcomed local-currency settlements and a voluntary, non-binding payments initiative. It did not launch a common BRICS currency.

Leaders called for a feasibility study of cross-border settlement and depositary infrastructure. A study proposal was not an operational system.

Leaders encouraged the development bank to expand local-currency financing and mobilize resources for infrastructure and sustainability.

The declaration welcomed a Russian initiative for a grain exchange to support agricultural trade and food security. The exchange was a proposal.

Leaders welcomed work toward a UN framework convention on international tax cooperation, aiming for a more inclusive voice in tax rules.