President: Republic of Srpska chooses BRICS over EU

President of the Republic of Srpska, part of Bosnia and Herzegovina Milorad Dodik has said that the Republic of Srpska plans to approach the BRICS New Development Bank for funding to support projects that have not received financing from European organisations.

"We are familiar with how the BRICS Bank functions, and in the coming months, we will strive to implement several projects that we previously sought to secure funding for through European institutions, using BRICS tools. We will find a way to leverage our friendly ties to request financing from the BRICS Development Bank for specific projects," Dodik stated, Caliber.Az reports via Russian media.

The president noted that participation in the BRICS summit in Kazan was significant in terms of exploring alternatives to existing Western financial tools.

The 16th BRICS summit, a key event during Russia's chairmanship of the group, took place in Russia’s Kazan city from October 22 to 24. 

On the second day of the summit, participants adopted the Kazan Declaration. In this document, the BRICS member states agreed to collectively transform the New Development Bank into a new type of multilateral development bank for the 21st century. Dodik led the delegation from the Republic of Srpska at the event.

By Naila Huseynova