24 25 26
May 2018
18 June
RT TV Debates

THE NEW DEVELOPMENT BANK: A STRONGER ROLE FOR BRICS IN THE GLOBAL FINANCIAL ARCHITECTURE

15:00-16:15 Pavilion 4, Conference Hall 4.2
The BRICS economies have jointly established a USD 100 billion development bank to be based in Shanghai. What does this new institution mean for global economic management? What are some of the key areas of focus over the medium term?
Moderator:
Peter Lаvelle, Anchor, RT
Panellists:
Pedro Alba, Vice President for Budget, Performance Review & Strategic Planning, The World Bank Group
Amar Bhattacharya, Senior Fellow at the Global Economy and Development Program, The Brookings Institution
Vladimir Dmitriev, Vice President, Chamber of Commerce and Industry of the Russian Federation
Kundapur Vaman Kamath, President, New Development Bank (NDB)
Philippe Le Houerou, Vice President, Policy and Partnerships, The European Bank for Reconstruction and Development (EBRD)
Sergey Storchak, Deputy Finance Minister of the Russian Federation
Shaolin Yang, Director General of the Department of International Economic and Financial Cooperation, Ministry of Finance of the People's Republic of China
Front row participants:
Ben Aris, Editor-in-Chief, Business New Europe
Yaroslav Lissovolik, Chief Economist, Member of the Management Board, Eurasian Development Bank (EDB)
Jim Rogers, Chairman, Beeland Interests Inc

Highlights

The new bank for development will be one that works jointly with other financial institutions, local and regional, to finance infrastructure projects.

Vladimir Dmitriev
Chairman, Bank for Development and Foreign Economic Affairs (Vnesheconombank) State Corporation

There are so many savings out there in emerging markets, and yet, in terms of their use there are not enough institutions to allow these savings to be utilized to boost growth rates and development.

Yaroslav Lisovolik
Member of the Management Board of Deutsche Bank Russia, Chief Economist, Head of Company Research in Russia

If you can create (finance) platforms that bring together the best, you can improve accountability, governance, transparency.

Amar Bhattacharya
Senior Fellow at the Global Economy and Development Program, The Brookings Institution

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