Brics ,Quad शिखर सम्मेलन 2024 uppsc current affairs || Priyanka yadav

On August 24, the 15th BRICS summit in Johannesburg announced that the five-member grouping (Brazil, Russia, India, China and South Africa) had invited six new members — Iran, Saudi Arabia and the United Arab Emirates (UAE) from West Asia; Egypt and Ethiopia from Africa, and Argentina from Latin America. It was reported that 40 countries have shown interest in BRICS’ membership, with 22 having submitted formal applications. From 2009, BRICS has met annually at summit level, and is backed by several ministerial and expert conclaves. It has spawned two major institutions – the New Development Bank (NDB) to provide development assistance and the Contingent Reserve Arrangement that supports countries facing short-term balance-of-payments pressures. The NDB has already financed 96 projects valued at $33 billion. Malaysia and Thailand are the latest nations in Southeast Asia to express interest in joining the expanded BRICS group of emerging economies. In this video we discuss about the strategic importance of BRICS.
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