OREANDA-NEWS. April 19, 2010. In the course of the BRIC Heads of State Summit in the city of Brasilia (Brazil), State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, the China Development Bank (CDB) and the Exim Bank of India signed a Memorandum on Cooperation.

The Memorandum provides for cooperation between the authorized BRIC countries’ state financial development and export promotion institutions in financing projects including those in the field of high technologies, innovations and energy conservation.

This Memorandum is the first practical document in the BRIC’s format designed to create an effective infrastructure for providing financial support for multilateral trade-economic and investment cooperation between the four countries.