* BRICS Summit (6th Summit) held at - Fortaleza,Brazil

* Participant Leaders of 5 Nations:

--Brazil - Dilma Rouseff
--Russia - Vladimir Putin
--India - Narendra Modi
--China - Xi Zinping
--South Africa - Jacob Zuma
* BRICS signed a deal to create a New 100 Billion US Dollar Development Bank & Emergency Reserve
Fund.
* Development Bank will have initial capital of - 50 Billion US Dollars, that could rise to 100 Billion
Dollars...funded equally by each nation.
* As per the deal, the capital of the bank will be split equally among all 5 BRICS nations with Headquarters
in - Shanghai, China
* Bank will also have its regional office in - Johannesburg, South Africa
* The bank will have it's rotating chair and it's 1st President will come from - India for 6 years.
* Bank's Board will have 5 Finance Ministers and will be chaired by - Brazil
* BRICS Finance Ministers or Central Bank's Governors will form a governing body to manage the CRA
* Initially the bank will be involved in - Infrastructure Projects in BRICS Nations
* Contribution of Different Nations :
---China - (41 Billion US Dollars)
---Brazil, Russia and India - (18 Billion US Dollars)
---South Africa - (5 Billion US Dollars)