Iran Announces It Is Joining New Development Bank

Tehran Times reported on Oct. 14 that Iran’s Finance Minister had announced Iran’s intention to join the New Development Bank, founded in 2015 by the BRICS. The paper reported that Central Bank Governor Mohammadreza Farzin spoke to the media on the sidelines of the Oct. 11 BRICS meeting of finance ministers and central bank governors in Moscow, and said: “The New Development Bank can pursue many of the development goals of the BRICS member countries, because today the World Bank operates within the framework of the goals of the United States and Western countries. We hope that the BRICS Development Bank will play this role for BRICS member countries, and we intend to become a member of this bank.”