BRICS: Iran Announces Over 50 Finance Projects With Alliance

Joshua Ramos
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Source: / Yan Yan / Xinhua/ AP

Following its invitation to join the BRICS bloc, Iran has recently announced more than 50 finance projects underway with other alliance members. Specifically, Iran’s Parliament Speaker, Mohammad Bagher Ghalibaf, spoke to reporters following the bloc’s 9th Parliamentary Forum that took place this week.

The country stated its hopes to utilize the capabilities that the alliance has currently. Moreover, Ghalibaf noted that many of those economic capacities are already being utilized with the finance projects that have already been enacted between the country and its fellow BRICS members. 

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Iran Declares More Than 50 Finance Projects with BRICS Members

The BRICS economic alliance took the world by storm last month when it announced six brand-new members. Indeed, the bloc invited Saudi Arabia, the United Arab Emirates (UAE), Iran, Egypt, and Ethiopia to join its ranks. Subsequently, one of those nations is already making use of the bloc’s capabilities.

Following its BRICS invitation, Iran has announced more than 50 finance projects with alliance member states. Specifically, the country’s parliament speaker, Mohammed Bagher Ghalibaf, discussed the projects with reporters. The country had just taken part in the BRICS 9th parliamentary forum this week. 

Source: Financial Tribune

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“The member countries of the bloc have significant economic and production capacities,” Ghalibaf stated. “In the political-economic dimension, action has been taken in such a way that major economic powers stand against US unilateralism together, and Iran is also considered an active member.” 

Thereafter, Ghalibaf noted that BRICS is hard at work developing an alternative to Western SWIFT. Finally, Ghalibaf spoke about the advantageous position Irna has within the bloc. Specifically speaking of its valuable geographical position and strength in various industries. Those will likely come into effect as these various finance projects come to fruition.