1. The establishment of the Contingent Reserve Arrangement (CRA) has further deepened and consolidated the partnership of its members in the economic-financial area.
2. In the sixth BRICS summit in Brazil, the member countries, signed an agreement to create a development bank (New Development Bank) with headquarters at Shangai, China in 2015 on the lines of Asian Development Bank and the World Bank. 
3. The economic potential and demographic development are putting the BRICS countries, increasingly in a leading position in setting the global agenda and having a greater say in the global governance.

The main functions of SAARC are as follows.
1) Maintenance of the cooperation in the region.
2) Prevention of common problems associated with the member nations.
3) Ensuring strong relationship among the member nations.
4) Removal of the poverty through various packages of programmes.
5) Prevention of terrorism in the region.

Inclusive growth, Trade issues, Global governance, Shared Prosperity, International peace and security.

(i) It is a multinational legal or trade agreements between countries.
(ii) It is an agreement between more than two countries but not many.

1. Basic Credit Facility
2. Extended Fund Facility
3. Compensatory Financing Facility
4. Buffer Stock Facility
5. Supplementary Financing Facility
6. Structural Adjustment Facility

(i) Trade blocks cover different kinds of arrangements between or among countries for mutual benefit.
(ii) Free Trade Area, Customs Union, Common Market and Economic Union.

(i) South Asian Association for Regional Co-operation (SAARC)
(ii) Association of South East Asian Nations (ASEAN)
(iii) BRICS; Free Trade Area, Customs Union, Common Market and Economic Union.