BRICS development bank's site not discussed

Updated: 2013-09-05 20:59

By Fu Jing in St Petersburg (

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The BRICS countries have not discussed a potential site for the headquarters of the bloc's development bank, but other developing countries may also benefit from the initiative, said a senior Chinese official.

"We have not touched on such detailed questions of site of headquarters," Zhu Guangyao, vice-minister of finance, told China Daily at a news conference prior to the opening of G20 St Petersburg Summit.

Zhu said the countries have reached consensus on offering lending resources to support BRICS countries' infrastructure construction once the development bank is set up.

"And in the future, we will expand the lending capacities to other developing countries as well," Zhu said.



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