Expert: BRICS marks two decades with new financial and digital cooperation mechanisms
Lucas Enriquez Rocha highlights the New Development Bank, BRICS Pay and digital payment infrastructure among the group's key achievements
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Photo source: Thanakorn Piadaeng / iStock
BRICS has developed a range of financial and digital cooperation mechanisms over its 20-year history, said Lucas Enriquez Rocha, Coordinator of the BRICS Study Group at the University of Sao Paulo, in an exclusive interview with TV BRICS.
Reflecting on the group's development, Rocha identified the creation of the New Development Bank in 2014, the BRICS Contingent Reserve Arrangement in 2015 and the BRICS Pay Initiative in 2018 among its most important achievements. He also highlighted the expansion of BRICS in 2024 and 2025.
He pointed to Brazil's contribution to the development of BRICS, noting the country's role as one of the founding members. He highlighted Brazil's support for the New Development Bank and its role in hosting BRICS summits.
“Brazil has played a very important role in helping BRICS. It has been one of its first members, founding members, alongside China, Russia and India,” Rocha said.
He also identified digital payment infrastructure as an area where Brazil is contributing to the group's current discussions, referring to the technological development of its digital payment system.
“Nowadays, Brazil is contributing heavily to the digital payment infrastructure discussion with the technological advancements and achievements of its digital payment system,” he said.
Looking ahead to the 18th BRICS Summit in New Delhi, Rocha said the event could provide an opportunity for countries to exchange ideas and develop new partnerships around areas including artificial intelligence safeguards, green finance and digital payment infrastructure.
“I expect it to be a great venue for people from different countries to join together and exchange new ideas, build projects and partnerships to solve the most important issues of our times,” he said.
Reflecting on BRICS' 20-year history, Rocha expressed optimism about its future development.
“I'm extremely happy to witness BRICS achieve its adulthood age and hope that BRICS has a glorious future following the next 20 years,” he said.
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