Exim Bank of India, Yaduvendra Mathur, chairman and managing director, signed a multilateral financial cooperation agreement for financing innovation, with chairmen/ presidents of other member development banks of BRICS (Brazil, Russia, India, China, and South Africa) nations, in the presence of Heads of States/Governments of the BRICS countries, in Fortaleza, Brazil during the BRICS Summit 2014.

This agreement is aimed at setting broader agenda for cooperation in the innovation financing sector, including exchange of information. The agreement is expected to enhance cooperation among BRICS development banks and to significantly promote innovation investment amongst BRICS nations.