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CLAT 2021 21 Year Experienced Team

Contribution of BRICS to global growth
f In terms of GDP, China occupies the second position; India the fifth; Brazil the ninth; Russia the 11th;
and South Africa the 35th.

f In terms of growth rates, China grew at 6%; India at 4.5%, Russia 1.7%, Brazil 1.2% and South Africa
0.1%.
Achievements of BRICS
f The main achievement of BRICS is the New Development Bank, with each country contributing equally to
its equity
f The bank has so far financed over 40 projects at a cost of $12 billion
f The BRICS countries are also developing a joint payments mechanism to reduce foreign trade
settlements in U.S. dollars

f An offshoot of the group, dealing with climate change, is BASIC (BRICS without Russia), which met at the
Spain conference in December 2019 and reiterated its support to the Paris Agreement
China extends support to India's BRICS Chairmanship 2021
f China had stated on February 2021 that they support India for hosting the BRICS Summit 2021 and
expressed interest in working with India to strengthen the cooperation among the five-member group of
emerging economies of which both China and India are critical members.
f Chinese Foreign Ministry spokesman said BRICS had become an influential grouping and Beijing
supported New Delhi's efforts as host.
f Chinese Foreign Ministry also stated that China attaches great importance to the BRICS mechanism and
it supports the Indian side in hosting the meeting and is willing to work with India and other BRICS
countries in expanding cooperation on economy, politics and people-to-people exchanges.

f The statement comes a day after India and China "positively appraised"the smooth completion of
disengagement of frontline troops in the Pangong Lake area.

Grand Renaissance Dam

Egypt, Ethiopia and Sudan resumed their years-long negotiations over the controversial Grand Renaissance
Dam hydropower project which Ethiopia is building on the Blue Nile.
About

Led by Ethiopia, the 145-meter tall hydropower project will be Africa's largest dam after completion.
The construction was initiated in 2011 on the Blue Nile tributary of the river that runs across one part of
Ethiopia.
About Nile river
Nile river is the longest river in the world .

Location: Nile river rises south of the Equator and flows northward through northeastern Africa and drains
into the Mediterranean Sea.

Historical significance: The Nile River basin covers about onetenth of the area of the continent, the area
was the stage for the evolution and decay of advanced civilizations in the ancient world. On the banks of the
river dwelled people who were among the first to use the plow and grow crops. All the cultural and historical

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