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[–] somekindofmutant 0 points 1 point (+1|-0) ago 

Russia's Finance Minister Anton Siluanov said BRICS will make a decision on the creation of the bank at the next summit in Brazil in mid-July. The entity will be called the "New Development Bank."

http://online.wsj.com/articles/brics-to-open-development-bank-by-2016-as-alternative-to-imf-1404888422

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[–] Empire_of_the_mind ago 

Hammer-meet-nail.