A number of outcomes were expected to result from the summit, such as the agreement on the launch of a BRICS bank. The bank was aimed to compliment the International Monetary Fund (IMF) through extending development finance to its member countries and poor countries who express the need. The Committee mentioned its desire to undertake an oversight on the state of readiness of the Department for South Africa to hold the summit. The Committee also recalled that it had previously discussed the issue of it attending the summit if allowed to do so by Parliament.