HUFFINGTON POST

BRICS Bank Launched In China As Alternative To World Bank, IMF

The bank is backed by Brazil, Russia, India, China and South Africa -- collectively known as BRICS countries.

SHANGHAI: A new USD 100 billion bank floated by BRICS nations, including India, as an alternative to the World Bank and IMF to boost infrastructure funding in the emerging economies and offer them tailor-made services was launched here on Tuesday.

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