The 2014 BRICS summit, with the theme "Sustainable Solutions for Inclusive Growth", took place in Brazil on July 15 and 16. Brazil, Russia, India, China and South Africa are to set up a development bank that will provide new financing channels and funding support for BRICS countries. The summit will be another milestone in cooperation between the five major emerging economies.

(China Daily Africa Weekly 07/18/2014 page31)