The CRA is a type of financial safety net in the form of a self-managed facility through which BRICS countries can provide mutual support to each other when dealing with short-term liquidity and balance of payment pressures, and will likely take the form of a swap agreement, with an initial size of $ billion.
The aim of the NDB is to mobilise resources for infrastructure and sustainable development projects in BRICS. Chief Negotiators have been appointed by each country and have commenced negotiations around issues such as membership; governance; capital size; structure and articles of agreement, amongst others. 2.