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BRICS Summit 2026: NDB Crucial Institution for Promoting Sustainable Development, Say Bloc Members

BRICS Summit 2026: NDB crucial institution for promoting sustainable development, say bloc members
Countries
BrazilChinaEgyptEthiopiaIndiaIndonesiaIranRussiaSaudi ArabiaSouth AfricaUnited Arab Emirates
Cooperation areas
Economic GrowthInclusive MultilateralismInstitutional DevelopmentSustainable Development

Source: The Economic Times | Original Published At: 2026-09-12 13:35:00 UTC

Key Points

  • BRICS members said the New Development Bank is a crucial institution for promoting sustainable development, reducing inequalities, and supporting resilience in emerging economies.
  • The New Delhi Declaration recognized the NDB's growing role as a development and modernization agent for shareholder countries and the Global South.
  • BRICS encouraged the NDB to expand resource mobilisation, local-currency financing, innovation, diversified funding sources, and impactful infrastructure projects.
  • The bloc urged the NDB to follow a member-led and demand-driven approach while strengthening governance, institutional resilience, and operational effectiveness.
  • BRICS reiterated support for further expansion of NDB membership and expedited consideration of applications from interested BRICS countries.
  • The statements were issued ahead of the 18th BRICS Summit in New Delhi, held under the theme 'Building for Resilience, Innovation, Cooperation and Sustainability'.
  • The declaration also highlighted the role of Supreme Audit Institutions in promoting accountability, transparency, effectiveness, and good governance.
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