OREANDA-NEWS. As part of the BRICS Summit events, an annual Meeting of Heads of Banks of the BRICS Interbank Cooperation Mechanismwas held.

In the course of the meeting, the heads of banks summed up the results of their five-year cooperation in this format and discussed the current and future joint activities.

A central theme of discussion at the meeting was cooperation with the New Development Bank (NDB). The meeting'sparticipants stressed the importance of the document that states their intention to interact with the New Development Bank and sets forth parameters and principles of such interaction. They plan to sign this document on July 9, 2015 in the presence of heads of state in the course of the BRICS summit. President of the New Development Bank KundapurVamanKamatkh shared his vision of NDB's future role and told about its potential lines of investment activity.

In his address Vnesheconombank Chairman, Chairman of the BRICS Interbank Cooperation Mechanism Vladimir Dmitriev said, "Taking into account that the BRICS countries are major government state institutions with worldwide prestige and reputation our cooperation will have a favorable impact on establishing the New Development Bank. According to him"banks of the BRICS Interbank Cooperation Mechanism and the New Development Bank have similar objectives and that is why our cooperation will have a positive influence on the development of the BRICS countries' economies".

Representatives of the BRICS banks expressed their satisfaction over how cooperation in innovations and high technologies was developing. In order to enhance cooperation in this field a decision was made to establish a permanent working group on innovations and high technologies. And its main goal should be to create an information base of projects in this area for them to be jointly funded.

Banks of the BRICS Interbank Cooperation Mechanism discussed also an issue of payments in national currencies of the BRICS countries. The sides acknowledgedthat if they want to increase the amount of mutual payments in national currencies, they need to look into the obstacles on the way of making such payments including at a legislative level and explore possible ways to remove themas well as business needs to be funded in national currencies.