BRICS Development Bank won’t rival China-led AIIB, but complement – CBR head

BRICS Development Bank won’t rival China-led AIIB, but complement – CBR head

The BRICS New Development Bank and the Asian Infrastructure Investment Bank (AIIB), both seen as alternatives to US – led institutions, will not compete, but rather complement each other, said the head of the Central Bank of Russia Elvira Nabiullina.

Nabiullina made the statement Thursday in Washington where she is attending the spring meetings of the International Monetary Fund and World Bank.

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