NEW DELHI : Foreign ministers of the five large emerging economies of the world —Brazil, Russia, India, China and South Africa—on Tuesday decided to allocate $15 billion towards setting up a special loan instrument to facilitate the rebuilding of their economies ravaged by the novel coronavirus pandemic.
This was stated by Russian foreign minister Sergey Lavrov in Moscow at the end of a virtual meeting of the five countries. “We believe that it should become a very good reinforcement for our countries’ economies when they’re coming out of the crisis stage and resume economic operations," Lavrov told Russian reporters.