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BRICS countries to set up green fund: Russian official

Xinhua, February 7, 2015 Adjust font size:

The BRICS countries are envisaging a green fund under a New Development Bank to finance green projects and develop green technologies for sustainable development, said a Russian official here Friday.

This will be part of the discussions during the BRICS environmental ministers when they meet in April in Russia, said visiting Russian Minister of Natural Resources and Environment Sergei Donskoi, who was here attending an international conference on sustainable development organized by India.

"During the BRICS meeting of environment ministers (in Moscow), we have chosen specially the topic of development of green economy and adopt resolution of environmental problems and competitiveness of business in the context of green economy," said Donskoi.

The New Development Bank of BRICS, to be based in Shanghai, will have a fund of 100 billion U.S. dollars to promote economic and technological cooperation among members and with non-members, especially developing countries.

The BRICS countries comprise Brazil, Russia, India, China and South Africa. Endi