China
Source: www.chinadaily.com.cn

The BRICS countries－Brazil, Russia, India, China and South Africa－should further extend people-to-people and cultural exchanges to address common global challenges, a senior official said.

Zhang Jianchun, deputy head of the Publicity Department of the Communist Party of China Central Committee, delivered a keynote speech at the Forum on People-to-People and Cultural Exchanges among BRICS Countries, held on Thursday and Friday in Beijing. The event was organized by the State Council Information Office and China International Publishing Group.

Zhang said this year marks the 15th anniversary of effective cooperation between BRICS countries, which have developed into a force to be reckoned with on the global stage. As the world economy gradually recovers from the COVID-19 pandemic and faces more complex situations and challenges, the BRICS countries need to strengthen people-to-people ties and work together in fields including healthcare, poverty alleviation, education and youth exchanges, he said.

Zhang said each of the BRICS countries has its unique and charming culture and has promoted communications with an open and inclusive attitude, setting an example in the development of global diversity.

"We need to gather forces from all walks of life, create more opportunities and build more platforms for cooperation," he added.

Du Zhanyuan, president of China International Publishing Group, said that promoting more dialogues can help strengthen the ties between peoples, build political mutual trust, deepen economic cooperation and boost cultural prosperity.

Countries around the world, and especially developing nations, face increasingly complex challenges, including COVID-19, economic development, climate change and the gap between rich and poor. The BRICS countries need to promote justice, fairness and other common values for all humanity and explore ways to address global challenges, Du said.

He said the BRICS countries should particularly collaborate on research and development, as well as the fair distribution of vaccines, to contribute to the global fight against the pandemic.

The BRICS nations also have great potential for people-to-people exchanges and should promote more cultural cooperation that engages media, think tanks and young people to create more mutual understanding and appreciation of arts and culture, Du added.

China
Source: www.ndb.int

On December 1, 2021, the New Development Bank (NDB) priced its 3-year USD 500 million SOFR-linked floating rate Pandemic Support and Sustainable Bond. This transaction has become the first floating rate benchmark of the Bank and its fifth USD benchmark bond offering in the international markets.

The net proceeds from the Bond will be used for financing sustainable development activities and providing COVID-19 emergency support loans to the member countries of the Bank. The Board of Directors of the NDB approved nine emergency support loans totaling approx. USD 9 billion in response to the adverse health, social and economic impact of the COVID-19 pandemic. NDB targets to provide a total of USD 10 billion in crisis-related assistance.

The transaction received strong interest from the global investor community following the mandate announcement. The debut SOFR-linked floating rate bond set the spread at SOFR +28bps, with a tightening of 2 bps from initial pricing thoughts. The order book was supported by high-quality investors. The distribution of investors of the final book was as follows, by geography: Asia – 37.9%, Americas – 33.6%, EMEA – 28.5%, and by investor type: CB/OI – 47%, Bank/Private Bank – 38.7%, Fund Manager – 13.7% and Others – 0.6%.

"The issuance of USD 500 million benchmark bond represents another important milestone for NDB, as it is our first floating-rate note and first SOFR-linked bond. Moreover, it is the Bank's first bond issue after new member countries joined NDB. The Bond resonated well with investors, as we are consistently targeting issuance to appeal to current investor demand. The transaction is in line with the NDB's risk-based, prudent and conservative funding and financing strategy. One of its key aspects is diversification of funding by instrument, currency, tenor, and type of interest rate," said Mr. Leslie Maasdorp, NDB VP & CFO. "The transaction is a clear demonstration of the Bank's successful transition away from LIBOR to the Secured Overnight Financing Rate (SOFR) and NDB's commitment to using innovative financial instruments in its funding activities."

Barclays, Citi, Deutsche Bank, Goldman Sachs International, and TD Securities acted as joint lead managers for the transaction.

Bond Summary Terms

Issuer: New Development Bank (NDB)
Issuer rating AA+ (S&P) / AA+ (Fitch) / AAA (JCR) / AAA (ACRA)
Format Reg S, Category 2
Notional amount USD 500,000,000
Settlement Date 09 December 2021
Maturity Date 09 December 2024
Issue Price 100%
Coupon FRN, Compounded SOFR+28bps, Quarterly, ACT/360
SOFR Convention SOFR Index where SOFR Index Start and SOFR Index End will be 5 days prior to Interest Period
Listing Regulated Market of the Irish Stock Exchange, trading as Euronext Dublin
Joint Lead Managers Barclays, Citi, Deutsche Bank, Goldman Sachs International, TD Securities

Background information

In December 2019, NDB registered its inaugural USD 50 billion Euro Medium Term Note Programme in the international capital markets. The Programme has been rated "AA+" by Fitch and has been assigned "AA+" long-term and "A-1+" short-term issue ratings by S&P.

NDB was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development. In 2021, NDB initiated membership expansion and admitted the United Arab Emirates, Uruguay and Bangladesh as its first new member countries.

The NDB received 'AA+' long-term issuer credit ratings from S&P and Fitch and 'AAA' foreign currency long-term issuer rating from Japan Credit Rating Agency (JCR) and Analytical Credit Rating Agency (ACRA).

Russia
Source: www.nkibrics.ru

Dear colleagues and friends,

I am glad to be able to address the participants and organizers of the V BRICS International School. Meetings in this format have become a good tradition. Such projects contribute to the popularization of the activities of the BRICS association, the dissemination of objective information about our work.

The rich program indicates the interest of young people and scientific community of our countries in deepening knowledge on BRICS issues. In response, we are convinced that the role of BRICSologists in promoting pentalateral cooperation is very significant. A deep and comprehensive analysis of the state and prospects of interaction within the BRICS association is always in demand, allows us to take the necessary measures for further configuration of BRICS, increase its practical impact.

BRICS as an interstate format of cooperation is largely unique. This is a vivid example of a new global "network diplomacy", the synergy of promoting national interests, taking into account the position of all partners, on the basis of consensus. States differing in cultural and civilizational terms build their relations on the principles of equality, mutual respect and openness to the outside world.

For 15 years, BRICS has successfully passed the stage of "searching for itself", and today it is difficult to imagine the architecture of international relations without BRICS. From an informal "interest club", BRICS has grown into a multidisciplinary strategic partnership, confirming its special demand in difficult times of the pandemic.

During the Indian BRICS Chairship, despite certain limitations, together we achieved significant results in strengthening pentalateral cooperation in all three pillars – political, economic and humanitarian. About 140 relevant events were successfully held, including the XIII BRICS Summit and more than 20 ministerial-level meetings. Action plans for the implementation of the BRICS Counter Terrorism Strategy and the Strategy for BRICS Economic Partnership, as well as for cooperation in the field of agriculture and innovation were agreed. The BRICS Remote Sensing Satellite Constellation Agreement has been signed. A major success was the adoption of a statement on strengthening and reforming the multilateral system, which contains the common position of BRICS in favor of the formation of a more equitable world order based on international law and the central role of the UN in world affairs.

We welcome the active development of dialogue in the humanitarian sphere, in particular through youth. It contributes to strengthening people-to-people contacts, laying a solid foundation for friendship and mutual understanding between our peoples. The annual BRICS Youth Summit, BRICS Youth Energy Summit, forums of young diplomats and scientists became a good tradition. This year, for the first time, the BRICS Youth Camp was held. Of course, the BRICS International School stands in the same row. I emphasize that all these initiatives are "from below", and not the result of an order from above.

I am sure that all participants of the BRICS International School will usefully pass its program, receive new knowledge and impressions, just communicate with each other, which in itself is also very important and valuable. I wish you fruitful work and all the kindest!

Russian National Committee on BRICS Research

Russia
Source: infobrics.org

International youth forum "BRICS Plus" will be hosted in New Delhi from 12 to 16 December, 2021.

The International Youth Forum "BRICS PLUS" is intended to unite youth leaders, public organizations, youth activists, researchers, scientists, entrepreneurs and students from the BRICS countries and neighboring countries to build an inclusive partnership among young leaders to spread the idea of cooperation with BRICS and creating awareness of the opportunities within BRICS and creating a positive image of the BRICS block at people-to-people level, encouraging international youth cooperation.

The Forum is organized by the International Youth Edu-Skills Foundation with the support of the Alexander Gorchakov Public Diplomacy Fund and in partnership with the Russian National Committee on BRICS Research.

The main goal of the International Youth Forum "BRICS PLUS" is to build inclusive partnership between young leaders and to raise awareness of the opportunities that the BRICS bloc can provide them and their countries.

The objectives of the BRICS PLUS International Youth Forum are:

•Raise awareness about BRICS among youth and explore the opportunities.

•Develop inclusive leadership among youth for cooperation with BRICS.

•Share knowledge and information on the recent development in the field of art, culture science, business and academic spheres within BRICS countries.

•Achieve the UN Sustainable Development Goals through practical actions.

•Encourage young people and the people around them to develop a healthy lifestyle and environmental protection concept.

•Review the BRICS results of BRICS Chairship in 2021 and prepare proposal the for the BRICS leadership in the framework of BRICS PLUS.

Main activities:

•Cooperation in the field of youth leadership

•Intercultural communication

•Public diplomacy

•Entrepreneurship, Innovation and Creative Industries

•Arts and culture

Program includes:

•Yoga

•Lectures on BRICS History and Global Governance and cooperation within BRICS

•Session on "Education opportunities in BRICS"

•Workshop "Intercultural communication"

•Workshop " Leadership & Soft Skills"

•Session "Public Diplomacy among BRICS"

•Cultural Program "Dance & Music"

•Industrial Visits & Project presentations

•Youth for plogging "Mini BRICS Youth Plus Eco-Walk"

•BRICS Plus for Environment "Tree Plantation"

•Realization of projects and cooperation agreements

•Excursion (Jaipur/Agra)

Expected results:

•Suggestions and Recommendations for the BRICS Leadership in the Framework of the BRICS Plus Cooperation

•Partnership agreements on cooperation between the organizations of the participants

•Creating a voice for BRICS in other countries, as well as raising awareness among the citizens of the BRICS countries

Russian National Committee on BRICS Research


Source: www.nkibrics.ru