September 08, 2021: The theme for the BRICS Summit 2021, under India’s Chairmanship is “BRICS@15: Intra-BRICS Cooperation for Continuity, Consolidation and Consensus”. Being the member development bank under the BRICS Interbank Cooperation Mechanism, Export-Import Bank of India (India Exim Bank) hosted the BRICS Annual Financial Forum on September 08, 2021, on a virtual platform. In line with the theme set by the Government of India, the theme for the BRICS Annual Financial Forum was “Promoting Economic Growth and Prosperity through BRICS Financial Cooperation”.
The Forum saw the participation of high-level delegations led by the heads of the development banks from the BRICS nations viz. the Brazilian Development Bank (BNDES), Brazil; the State Development Corporation (VEB.RF), Russia; the China Development Bank (CDB), China, the Development Bank of Southern Africa (DBSA), South Africa, besides the India Exim Bank.
The event was also attended by the President of the New Development Bank, besides senior officials from the Government, academia, banks and financial institutions, research bodies and think tanks from India and abroad. The Hon’ble Minister of State for Finance, Government of India, Dr. Bhagwat Kishanrao Karad graced the occasion and delivered the inaugural address.
Speaking at the occasion the Hon’ble Minister of State for Finance, Dr. Bhagwat Kishanrao Karadnoted the contribution of BRICS nations in imparting a fresh resonance to the South-South cooperation in a wide range of areas which provides an expressive testimony of its commitment in the process.He reiterated that the future of the BRICS Interbank Cooperation Mechanism hinges upon the 5 member financial institutions which further needs to elevate their partnership to a level which facilitates sustainable investments across the world.
During the event, Ms. Harsha Bangari, Managing Director, India Exim Bank highlighted the role played by the BRICS nations in alleviating infrastructure bottlenecks in many developing countries. She opined that member DFIs need to extend technical assistance,by sharing expertise and experiences, among the BRICS economies and more importantly with other partner developing countries.She urgedthe member development banks of the BRICS nations to collaborate through emphasis on innovation, to ensure inclusive growth and shared prosperity.
The heads of the member development banks and NDB while sharing their insights highlighted the need for closer collaboration among the member development banks of BRICS and NDB. They emphasized the need for increased financial cooperation which will form the basis for the long-term effective mechanism of economic development of BRICS nations and other partner developing countries.
The winner of the India Exim Bank BRICS Economic Research Annual Award 2021 was also announced and felicitated during the event.
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Mr. David Sinate, Chief General Manager, Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005. Telephone: +91-22- 2286 0363; Fax: 022- 2218 0743; E-mail: email@example.com