BRICS New Development Bank Aims for Global Modernization, Head of Bank Says

© Getty Images / China News ServiceDilma Rousseff, President of the New Development Bank
Dilma Rousseff, President of the New Development Bank - Sputnik Africa, 1920, 23.03.2025
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The BRICS New Development Bank (NDB) is a bank founded by BRICS nations to fund development projects within its member countries. It reallocates resources to projects aimed at boosting their economies and improving quality of life. It was the first global bank established by emerging economies.
The BRICS New Development Bank (NDB) aims to finance knowledge-intensive projects to advance global modernization, Head of the NDB, Dilma Rousseff, said, speaking at the China Development Forum.
BRICS created the NDB to play a key role in financing social and digital infrastructure, research, and technology, Rousseff said.
She added that the Global South aims for economic modernization, and sustainable development can bridge the technological gap and build competitive economies globally.
As Rousseff specified, the NDB strives to ensure sustainable growth and advocates for multilateral cooperation in the innovation sphere.
Amos Lugoloobi, Minister of State for Finance, Planning and Economic Development (Planning), Republic of Uganda. - Sputnik Africa, 1920, 18.03.2025
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The China Development Forum is an annual Beijing forum. Held shortly after China's parliamentary sessions, it brings together experts and multinational corporation executives to foster international dialogue, solidarity, and economic growth.
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