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stability.
In this regard, a key role will be played by the New Development Bank (NDB) and the BRICS
Contingent Reserve Arrangement (CRA) both of which were launched last year. Their total cap-
ital will be $200 billion, which is not only the association's solid financial foundation, but also
the evidence of its rising profile in the global economic and financial areas.
The BRICS Business Council makes a significant contribution to the development of dialogue
between the Big Five business representatives, as well as to strengthening public-private part-
nership.
The BRICS presidency will now go to our Indian colleagues. Its motto will be Building Respon-
sive, Inclusive and Collective Solutions (or BRICS).
In short, there is a wide scope of important and mutually enriching work for our countries and
peoples to accomplish. Russia's active participation in the interstate association on this scale will
help provide a more favorable environment for its economic growth, higher living standards and
stronger positions in the emerging multipolar world.
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