On June 17, 2025, the Brazilian Ministry of Finance (MF) organized a meeting between representatives of civil society and heads of economic departments and central banks of the BRICS countries. The event, held under the auspices of the International Affairs Secretariat of the Ministry of Finance, was also attended by representatives of the Central Bank of Brazil, the General Secretariat of the Presidency of Brazil, the Ministry of Foreign Affairs and the Institute of Applied Economic Research (IPEA).
Antonio Freitas, Deputy Secretary for International Finance and Economic Cooperation, called this dialogue «the first official opportunity» for direct interaction between civil society and the BRICS monetary authorities. «This is a historic moment for financial cooperation within the framework of BRICS», he said — «For the first time, civil society is officially involved in the process of developing proposals. Such interaction plays a key role in developing comprehensive and effective economic development strategies».
During the meeting, 10 delegates from civil society made proposals developed within the framework of the group’s expert councils and forums. In addition to speeches, all initiatives were systematized in official documents and sent to the BRICS member countries for further consideration.
The heads of the key coordination structures of the BRICS civil segment of the «person-to-person» format attended the working session: BRICS Trade Union Forum, BRICS Youth Council, BRICS Business Council, BRICS Think Tank Council, Civil BRICS Council, BRICS Parliamentary Forum, BRICS Women’s Business Alliance, BRICS+ Association of Cities and Municipalities, BRICS Supreme Audit Institutions, BRICS Small and Medium Enterprises Working Group and the Committee on economic issues of the Sustainable social economic collegiate of Brazil.
An important aspect of the meeting was the participation of official representatives of financial departments and central banks of the member states of the association. China, Egypt, India, Indonesia, Russia, South Africa and the United Arab Emirates were among the countries that delegated their experts.
Constanza Negri, representing the interests of the BRICS Business Council and the BRICS Women’s Business Alliance from the Brazilian National Confederation of Industry, emphasized the importance of integrating a gender perspective into the activities of the New Development Bank. In her speech, she stressed: «It is extremely important to develop gender-sensitive economic mechanisms. We propose to create special credit lines, provide preferential financing conditions and develop customized banking solutions for enterprises led by women with the assistance of the NDB». The speaker paid special attention to the initiative put forward back in 2023: «We once again propose to establish the BRICS Women’s Development Fund as a permanent financial mechanism with the support of the New Development Bank».
Marco Fernandes, a representative of the Landless Workers’ Movement and a member of the BRICS Civic Council, focused on improving the Conditional Reserves Agreement. «To formulate our proposals, we conducted extensive consulting work with the participation of more than 20 experts from various organizations, social movements and the scientific community», he said. — «I speak on behalf of a broad coalition. We are convinced that the upgraded CRA can become a real alternative to the IMF and are ready to propose concrete steps to realize this potential in the coming years».
The meeting was preceded by serious preparatory work. In the first half of 2025, the Brazilian Ministry of Finance organized a series of consultations with civil society, including both virtual and face-to-face formats. Expert discussions on Brazil’s role in BRICS were held in the country’s three largest cities — Rio de Janeiro, Sao Paulo and Brasilia.
