SABC News - BRICS bank aims to be fully functional by end of 2016:Friday 18 March 2016

BRICS bank aims to be fully functional by end of 2016

Friday 18 March 2016 12:27

SABC

The new BRICS Development Bank is currently on an intensive recruitment drive.

The new BRICS Development Bank is currently on an intensive recruitment drive.(SABC)

The new BRICS Development Bank is currently on an intensive recruitment drive and hopes to have at least 100 staff members from each of the five BRICS countries working by April.

It is aiming to be fully functional by the end of the year.

"Some of the key positions have already been filled, so we are looking at board of governors, board of directors as well as executive. They have also started staffing the bank and what they did was that they looked at the five BRICS countries to get people from related institutions," says Cyril Prinsloo, a researcher at the South African Institute of International Affairs.

"In South Africa for example, the Department of International Relations and Cooperation (DIRCO) and the Development Bank of South Africa has seconded people to the bank and there is also a massive recruitment drive. They estimate that within the first year they are looking to recruit about 100 people."

Africa's BRICS Bank headquarters will officially open next month in Johannesburg while the main head office in Shanghai has officially opened its doors for business.

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