Greece considers joining BRICS bank

© Sputnik

The Greek government is considering whether it could get involved in the BRICS New Development Bank, Greece's Minister of Economy, Infrastructure, Shipping and Tourism Giorgos Stathakis told Sputnik Wednesday.

"We are fully supporting the BRICS initiative, and we are investigating ways for Greece to get involved in this initiative that could be beneficial for both sides," the minister said.

A source in the Greek government told Sputnik in May that Greek Prime Minister Alexis Tsipras was likely to discuss his country's membership of the NDB, with BRICS leaders in St. Petersburg during a June 18-20 economic forum.

The five major developing economies - Brazil, Russia, India, China and South Africa - bill their venture as an alternative to the International Monetary Fund (IMF), one of Greece's three main creditors, to which Athens owes a $1.7-billion repayment by the end of June.