New Development Bank

The New Development Bank (NDB) is an international financial institution established by the BRICS countries in 2014 with the aim of supporting the economic development of emerging economies.

The BRICS countries represent five major developing economies: Brazil, Russia, India, China, and South Africa. These countries came together to establish the NDB in order to promote cooperation and collaboration for a more fair and balanced global economic order.

The NDB provides financial support to development projects and evaluates their compliance with important factors such as sustainability, innovation, and environmental impact. The bank supports projects in areas such as infrastructure, energy, transportation, water resource management, renewable energy, and sustainable agriculture.

The main objectives of the NDB include supporting economic growth, reducing poverty, promoting social development, and addressing climate change in member countries. The bank aims to provide customized financial solutions based on the needs and priorities of its member countries.

The NDB is headquartered in Shanghai, China. The bank has created its own capital to provide resources for financing projects among member countries. It collaborates with international financial institutions and utilizes other financial sources to sustain its projects.

The NDB plays a significant role in supporting the economic development of emerging economies and financing sustainable projects. It provides a platform to strengthen cooperation among BRICS countries and to make the global economic order more equitable.