New Development Bank (NDB)

This fact sheet, published by the Socio-Environmental Platform of the BRICS Policy Center, talks about the New Development Bank (NDB), created in 2014 by the five BRICS countries – Brazil, Russia, India, China and South Africa. The bank aims at mobilizing investments towards infrastructure projects and sustainable development in the BRICS and other developing countries. Furthermore, the initiative seeks to promote multilateral and regional cooperation efforts between financial institutions. The bank, whose activities began in 2016, is well known for its promptness to give loans and its less bureaucracy process, two great advantages in relation to traditional multilateral banks.