The BRICS New Development Bank (NDB) is the first global multilateral financial institution created exclusively by developing countries and aimed at financing projects that contribute to the development of countries in the Global South. This was stated by NDB President Dilma Rousseff, speaking at the opening of the fourth ministerial meeting of the China-Latin American and Caribbean Community (CELAC) forum.

She said the bank has attracted investments totalling US$140 billion in the 10 years of its existence. Currently, 24 per cent of the NDB’s operations are carried out in national currencies. In addition, national currencies provide almost a third of the bank’s financing (31 per cent), Rousseff said. This is reported by
Brasil 247, a partner of TV BRICS.

“The number of countries participating in the New Development Bank is growing, and we are ready to offer effective solutions to meet the current needs of these nations”

Dilma Rousseff President of the New Development Bank

The NDB Presidebt also spoke about the importance of the partnership between China and CELAC, which is based on equality. Rousseff praised China’s role in the development of nations in the Global South.

Photo:
Brasil 247