Explanation:

The 6th BRICS Summit that was held in Fortaleza, Brazil concluded recently. The participating nations Brazil, Russia, India, China and South Africa jointly issued the Fortaleza Declaration. The key points of the declaration are:

• BRICS Information Sharing and Exchange Platform will be set up to facilitate trade and investment cooperation.
• Agreement for setting up the New Development Bank (NDB) with $100 billion corpus which will distribute the funds equally among all the BRICS nations for mobilizing resources for infrastructure and sustainable development projects in BRICS.
• Pact for the setting up of the BRICS Contingent Reserve Arrangement (CRA) with an initial size of $100 billion to tackle short-term liquidity demands.