https://sputniknews.in/20250704/brics-to-set-up-guarantee-fund-to-draw-investment-to-member-states---reports-9396991.html
BRICS to Set Up Guarantee Fund to Draw Investment to Member States - Reports
BRICS to Set Up Guarantee Fund to Draw Investment to Member States - Reports
Sputnik India
The BRICS group of the fastest growing emerging economies will create a guarantee fund to increase investment in the member states while lowering financing... 04.07.2025, Sputnik India
2025-07-04T11:28+0530
2025-07-04T11:28+0530
2025-07-04T11:28+0530
business & economy
vladimir putin
sergey lavrov
brazil
us
brics
china
india
south africa
russia
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The New Development Bank-backed fund is modeled on the World Bank's Multilateral Investment Guarantee Agency (MIGA), which aims to address global investment shifts spurred by the US economic policy.The proposed BRICS Multilateral Guarantee (BMG) mechanism has received technical approval from member states and now needs the approval of BRICS finance ministers, one of the sources said.The initial funding value has not been disclosed, but the New Development Bank is expected to mobilize $5 to $10 in private capital for pre-approved projects for each dollar in guarantees provided by the BRICS bank.Technical preparations for the creation of the fund are expected to be finalized by the end of 2025, so that pilot projects could receive guarantees in 2026, the news agency reported.The 17th BRICS summit will take place in Rio de Janeiro from July 6-7. Russian President Vladimir Putin will participate in the BRICS summit's plenary session via a video link, while Foreign Minister Sergey Lavrov will attend the summit in Brazil in person.
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vladimir putin, sergey lavrov, brazil, us, brics, china, india, south africa, russia
vladimir putin, sergey lavrov, brazil, us, brics, china, india, south africa, russia
BRICS to Set Up Guarantee Fund to Draw Investment to Member States - Reports
The BRICS group of the fastest growing emerging economies will create a guarantee fund to increase investment in the member states while lowering financing costs, Reuters reported on Thursday, citing sources familiar with the matter.
The New Development Bank-backed fund is modeled on the World Bank's Multilateral Investment Guarantee Agency (MIGA), which aims to address global investment shifts spurred by the US economic policy.
The proposed BRICS Multilateral Guarantee (BMG) mechanism has received technical approval from member states and now needs the approval of BRICS finance ministers, one of the sources said.
The initial funding value has not been disclosed, but the New Development Bank is expected to mobilize $5 to $10 in private capital for pre-approved projects for each dollar in guarantees provided by the BRICS bank.
Technical preparations for the creation of the fund are expected to be finalized by the end of 2025, so that pilot projects could receive guarantees in 2026, the news agency reported.
The 17th BRICS summit will take place in Rio de Janeiro from July 6-7. Russian President Vladimir Putin will participate in the BRICS summit's plenary session via a video link, while Foreign Minister Sergey Lavrov will attend the summit in Brazil in person.
