BRICS Finance Ministers Meeting 2014: July 15: Fortaleza, Brazil

The BRICS Finance Ministers Meeting took place on July 15, 2014 in Fortaleza, Brazil, as part of the 6th BRICS Summit. Here are the key details:

1. Date and Location: The meeting was held on July 15, 2014, in Fortaleza, Brazil.

2. Participants: The meeting included Finance Ministers and Central Bank Presidents from the BRICS countries (Brazil, Russia, India, China, and South Africa).

3. Context: This meeting was part of the broader 6th BRICS Summit, which took place from July 15-16, 2014, in Fortaleza and Brasília, Brazil.

4. Key Outcomes:

– The Finance Ministers and Central Bank Governors discussed and finalized two major financial agreements:

a) The establishment of the New Development Bank (NDB), aimed at financing infrastructure and sustainable development projects.

b) The creation of the Contingent Reserve Arrangement (CRA), which would function as a multilateral currency swap among BRICS Central Banks.

– These agreements were subsequently signed during the Summit, marking significant progress in BRICS financial cooperation.

5. Other Discussions: The meeting likely covered various economic and financial topics relevant to the BRICS nations, although specific details of the discussions are not provided in the given search results.

6. Importance: This meeting played a crucial role in preparing and finalizing the financial agreements that were central to the 6th BRICS Summit’s outcomes, strengthening economic cooperation among the BRICS countries.

The Finance Ministers Meeting was an integral part of the BRICS Summit proceedings, setting the stage for important financial decisions and agreements that were formalized during the main Summit events.

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