The 'Fortaleza Declaration', recently in the news, is related to the affairs of

The Fortaleza Declaration was signed during the 6th BRICS Summit in 2014, marking the formal establishment of the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA). While the WTO is frequently associated with significant global declarations (such as the Bali Package), the Fortaleza agreement was exclusively a BRICS initiative aimed at creating an alternative to traditional Western-led financial institutions. The core concept being tested is the ability to link major international summits and their landmark institutional outcomes to the correct multilateral organization.