The BRICS summit in Ufa (Russia)

The BRICS members have supported an initiative by RDIF to set up a joint mechanism for equity investments in infrastructure projects in BRICS countries. RDIF, India’s IDFC group, Brazil’s BTG Pactual, China’s Silk Road Fund, and the Development Bank of Southern Africa signed a framework agreement in 2015 at the BRICS summit in Ufa (Russia). This initiative was also supported by the BRICS Business Council.