New BRICS bank of development as a move to the integration institutionalization
Keywords:
bank, BRICS, integration,Abstract
BRICS is a union that is actually functioning now. It has great prospects in modern international economic relations. This paper studies the process of forming a new bank of BRICS as prospects not only for EU–members , but also for the whole world community. This transformation is the next step to institutionalize the group. These actions influence on the growing BRICS effect on formation of the global financial and economic structure. The article reveals that BRICS is going to develop cooperation and build modern system of interactions within the contemporary geopolitical changes.
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