2013 BRICS YOUTH COMMUNIQUÉ – ON THE PROPOSED CREATION OF A BRICS DEVELOPMENT BANK

The 2013 BRICS Youth Communiqué, presented by Youth@SAIIA learners at the 5th BRICS Summit in Durban, outlines recommendations for the establishment of a BRICS Development Bank (BDB). The document advocates for a bank that is independent of government political agendas, inclusive of all member nations regardless of financial status, and focused on sustainable development in the developing world.

• The communiqué recommends that the BRICS Development Bank (BDB) be independent of government political influence and inclusive of all BRICS nations regardless of their financial status or contribution. It also suggests that the bank should avoid imposing strict conditions on development loans and should collaborate with existing regional and multilateral financial institutions.
• The youth propose locating the BDB in either South Africa or Shanghai, China. China is suggested due to its established banking IT and telecommunications systems and strong trading partnerships. South Africa is proposed to further develop trade between BRICS countries and Africa, leveraging its own established financial institutions.
• Regarding funding and currency, the document calls for a system of equal funding and partnership among all BRICS nations. It suggests the Chinese Renminbi (Yuan) as a viable primary currency for the bank. While acknowledging the initial $10-billion pledge from each member, the communiqué states this is insufficient for long-term sustainability and urges leaders to find additional funding sources.
• The communiqué proposes a phased project approach, starting with pilot projects and a grant model within BRICS countries before expanding to other developing nations. It suggests creating a separate youth programme funding area focused on skills development, youth employment, inter-BRICS youth projects, and the improvement of educational facilities from primary to tertiary levels.
• To ensure accessibility and local engagement, the document recommends establishing a branch of the BDB in every member state along with a virtual secretariat to facilitate information dissemination and grassroots participation.

APA

South African Institute of International Affairs (2013). 2013 BRICS YOUTH COMMUNIQUÉ – ON THE PROPOSED CREATION OF A BRICS DEVELOPMENT BANK. https://saiia.org.za/research/2013-brics-youth-communique-the-proposed-brics-development-bank/

Chicago

South African Institute of International Affairs. 2013 BRICS YOUTH COMMUNIQUÉ – ON THE PROPOSED CREATION OF A BRICS DEVELOPMENT BANK. 2013. https://saiia.org.za/research/2013-brics-youth-communique-the-proposed-brics-development-bank/.

Wikipedia

{{cite press release |author=South African Institute of International Affairs |title=2013 BRICS YOUTH COMMUNIQUÉ – ON THE PROPOSED CREATION OF A BRICS DEVELOPMENT BANK |date=25 March 2013 |url=https://saiia.org.za/research/2013-brics-youth-communique-the-proposed-brics-development-bank/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{southafricaninstituteofinternationalaffairs20132013, author = {{South African Institute of International Affairs}}, title = {{2013 BRICS YOUTH COMMUNIQUÉ – ON THE PROPOSED CREATION OF A BRICS DEVELOPMENT BANK}}, publisher = {South African Institute of International Affairs}, year = {2013}, month = mar, url = {https://saiia.org.za/research/2013-brics-youth-communique-the-proposed-brics-development-bank/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }