Introduction and Functions of the BRICS New Development Bank

The BRICS New Development Bank is a multilateral development bank established in 2014 following an agreement among Brazil, Russia, India, China, and South Africa. According to Article 2 of the NDB Agreement, membership is open to all United Nations members and includes both borrowing and non-borrowing members.

Bank Members and Capital Shares

Brazil, Russia, India, China, and South Africa each hold 18.98% of the NDB’s capital. Other members of the bank include:

• Bangladesh (joined 2021, share 1.79%)
• United Arab Emirates (joined 2021, share 1.06%)
• Egypt (joined 2023, share 2.27%)
• Uruguay (prospective member, will join officially after signing the accession agreement)

Roles and Mission

The BRICS New Development Bank addresses key issues such as climate change, disaster resilience, and technology integration in its operations. According to Article 1 of the founding agreement, the bank should:

• Support financing of infrastructure and sustainable development projects in BRICS countries and other emerging and developing economies.
• Complement the efforts of multilateral and regional financial institutions and contribute to global growth and development.
• Collaborate with international organizations and other financial entities, providing technical assistance for supported projects.
• Support public or private projects in member borrowing countries through guarantees, equity participation, loans, or other financial instruments (equity investments or bond underwriting).
• Facilitate access for commercial, industrial, agricultural, or service companies with projects in member borrowing countries to international capital markets.