The association of Brazil, Russia, India and China, also known as BRIC, is being appealed to aid the European nations so as to relieve them from the huge debt-burden.

The agenda will be raised at the IMF-World Bank meeting to be held in Washington next week.

Economic Affair Secretary R Gopalan revealed that the BRIC authorities will be discussing about the way of helping out the European nations.

Also, Finance Minister of India Pranab Mukherjee will speak at the meeting on behalf of the country. The debt-crisis in countries like Greece, Portugal and Ireland has brought uncertainty in the market flow worldwide. The negative effect of the crisis is expected to hit many more countries in the coming year.

India has already assured IMF to help the poverty-stricken countries through New Arrangements to Borrow. The country has fixed 20% of foreign exchange reserves to provide to fight the debt in European nations. Also, Brazil has assured to provide with $9 billion to European nations to overcome their debts.

On the other hand, Italy and Greece were after China, asking the nation to buy the bonds and also commence a stake deal.