* BRICS leaders to meet in South Africa next week
* Reserves pool, infrastructure bank to be discussed
* Pool could initially total up to $120 billion
By Lesley Wroughton and Alonso Soto
WASHINGTON/BRASILIA, March 21 Leaders from the
world's major emerging economies are likely to endorse plans at
a summit next week to create a joint foreign exchange reserves
pool and an infrastructure bank for developing countries, senior
emerging market officials said on Thursday.
Leaders from China, Russia, India, Brazil and South Africa,
known as the BRICS, will gather in the coastal city of Durban,
South Africa, on March 26 and 27.
The officials said the leaders will discuss reports prepared
by working groups led by Brazil on the proposed reserves pool,
and another by India and South Africa on the creation of a joint
development bank, which would provide financing to emerging and
developing economies for infrastructure projects.
"There are still some differences among the countries, but
we believe that the BRICS will give the green light to both
projects," said a senior Brazilian government official, who
asked not to be named because he was not authorized to speak
about the matters publicly.
The official told Reuters the proposed contingency reserve
arrangement would initially hold between $90 billion and $120
billion, although a figure was unlikely to be included in a
final statement by the leaders.