Iran plans to join the BRICS Bank, the Iranian Tasnim news agency reported Monday citing an Iranian official.
“Iran will join #BRICS Bank: Iranian official,” Tasnim reported on its Twitter account
— Tasnim News Agency (@Tasnimnews_EN) October 26, 2015
The agreement to establish the BRICS New Development Bank (NDB), with an initial capitalization of $100 billion, was signed by the BRICS member states — Brazil, Russia, India, China and South Africa — during the group’s 6th summit in Fortaleza, Brazil, in July 2014.
The bank was officially launched at the last BRICS summit in the Russian city of Ufa earlier this year.