SOUTH Africa has expressed its desire to host the BRICS
Development Bank and expects that such a decision may be taken at the next
summit at Durban.
President Jacob Zuma had already made a ground for this during the BRICS
Summit in India in March 2012. South Africa was the first to ask for the BRICS
bank to be located in South Africa, and no one else has put their name forward.
Each
partner in the BRICS bloc is expected to contribute $10 million as seed capital
for the BRICS development bank but the bank will also partner with other
Governments and institutions.
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