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Rafael Martins de Lima was in the Economic & Commercial Office of Spain in Moscow (Russia) talking about funding instruments.

BRICSs markets have developed pretty fast through foreign investments and exports. But their next step should be suppported with more sophisticated funding.

Many relate securitization with Lehman Brothers. But fixed income is developing and will develop even more due to de the decreasing role of banks in some loan activities.

That is the same with other kind of funding as project and asset finance. On the other side all these kind of finance require an stable regulatory and market environment.