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Greece can easily receive financing from the New Development Bank established by BRICS, Deputy Finance Minister Sergey Storchak said on Tuesday. According to him, it will be enough for Greece to buy a couple of shares of the bank to be eligible for funding. He added that this would require a political decision.
“If they buy, so to speak, a few shares and become members of the bank, they will be able to count on the resources. We do not have any co-relation between a contribution and an amount of funding. There is general agreement that the system of the countries’ assets will be balanced”, said Storchak. The Deputy Finance Minister also said that the admission of a new member to the current system is always a political decision. “Greeks happened to be first who got interested in BRICS bank. As soon as the Institute starts operating, the board of directors will prepare and the board of governors will approve the procedure to consider membership applications from new candidates”, he stressed. Storchak said he “sees no problems” with the approval of Greece’s possible application. “I do not see any problem if all five governments order their governors to uphold [Greece’s request]”, he said.