Introduction to the New Development Bank and Its Performance

History and Establishment of the BRICS New Development Bank (NDB)

The head of the “Financial and Investment Cooperation” working group of the BRICS Specialized Council – Russia, in the second part of his presentation, introduced the New Development Bank (NDB), which was established in June 2014 following the signing of an agreement among the leaders of the BRICS member countries.

Purpose of Establishing the New Development Bank

BRICS created the New Development Bank to allocate resources for infrastructure and sustainable development projects within BRICS and other emerging and developing economies. The bank also complements the efforts of multilateral and regional financial institutions in promoting global growth and development.

Performance of the New Development Bank

The bank’s performance, including the projects it has financed, was a key topic during the session. Since its inception, the NDB has financed a diverse portfolio of infrastructure, environmental, and development projects in BRICS member countries, playing a vital role in strengthening financial cooperation among the members.