Which one among the following was not an outcome of the fifth BRICS summit held in Durban in South Africa in March 2013?
- ASigning of two agreements on Extending Credit Facility in Local Currencies and BRICS Multilateral Letter of Credit Confirmation Facility
- BProclamation of establishment of BRICS-led New Development Bank
- CCreation of a safety net through a Contingent Reserve Arrangement (CRA) among BRICS countries
- DSetting up of BRICS Business Council and BRICS Think Tank Council
Explanation
The fifth BRICS summit was held at Durban (eThekwini), South Africa, on 26–27 March 2013. Its outcomes included the proclamation to establish the BRICS-led New Development Bank, the creation of a financial safety net through the $100-billion Contingent Reserve Arrangement, and the setting up of the BRICS Business Council and the BRICS Think Tanks Council. The two agreements on Extending Credit Facility in Local Currencies and the Multilateral Letter of Credit Confirmation Facility were signed earlier, at the fourth BRICS summit in New Delhi in March 2012. Since the question asks what was NOT an outcome of the Durban summit, the answer is A.