OREANDA-NEWS  The BRICS investment platform proposed by Russia should not be considered as a replacement for the International Interbank Information Transfer and Payment System (SWIFT). This was stated by the press secretary of the President of the Russian Federation Dmitry Peskov, his words are quoted by TASS.

The Kremlin stressed that one of the main goals of the new platform will be to stimulate investment activity in emerging economies. We are talking primarily about the States of the Global South and East. "All this is in no way intended as an alternative to SWIFT and something else," Peskov explained.

He noted that the new BRICS investment platform will include "electronic tools". However, Peskov did not specify which instruments he was talking about.

Earlier, Russian President Vladimir Putin made a proposal to create a new investment platform within the framework of the BRICS. According to him, such a platform will provide developing countries with the necessary finances. In addition, Putin stated the need to create a BRICS grain exchange, which would contribute to the formation of fair prices for food and raw materials in the countries of the association.