Beijing: Outgoing World Bank President Robert Zoellick on Tuesday said he would back the proposed BRICS bank desired by the five member grouping for various reasons including large infrastructure demand by India.
The bank chief said he favoured his organisation working with such a lending agency as with any other development bank.
Answering questions at the Boao Forum for Asia in China's Hainan province on the plans of BRICS countrie - Brazil, Russia, India, China and South Africa - to have a bank of their own, Zoellick said it is still to be finalised by the Finance Ministers of the five nation bloc.
"It's still at the stage where the Finance Ministers are analysing it to go forward. As a general principle, my view would be, if the countries want to develop it, then we should work with it," he said, according to the transcript circulated to the media by the World Bank.
He said it is important to understand what was driving countries like, Brazil, Russia, India, China and South Africa, (BRICS) to for a Bank of their own.
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