BRICS-Plus: the New Force in Global Governance

... cooperation among the regional financing arrangements (RFAs) where both BRICS and BRICS+ countries are members. These RFAs with BRICS participation include the Eurasian Fund for Stabilisation and Development (EFSD), BRICS Contingency Reserve Arrangement (BRICS CRA), and CMIM – Chiang Mai Initiative Multilateralisation. This platform may have the option of financing stabilization programs and investment projects in national currencies. The BRICS Contingent Reserve Arrangement, which became operational ...