An opinion article argues that the New Development Bank has established itself as a BRICS multilateral lender but must increase lending and demonstrate greater impact.
Rousseff said approximately 23.95 billion Brazilian reais in financing operations for Brazil had been approved since March 2023, when she assumed leadership of the Shanghai-based institution.
The New Development Bank president explains BRICS-led financial architecture, local-currency lending, institutional expansion, and the 2027-2031 strategy for technology, infrastructure, and sovereignty.
The NDB president says Lula’s leadership helps position the Global South, while detailing the bank’s investments, local-currency strategy and expansion plans.
The article outlines India’s strategy to combine BRICS+ cooperation mechanisms with Western deep-tech partnerships to support a $10 trillion net-zero transition.
BRICS Pay plans to pilot corporate cross-border settlements in national currencies using a decentralized financial messaging network and a closed blockchain platform.
BRICS is creating working groups on international taxation, transfer pricing, and revenue statistics, potentially giving emerging economies a stronger voice in global tax rule-setting.
A Brazilian economist said BRICS can help countries deepen economic cooperation and address shared risks amid global fragmentation, while highlighting India’s growth and Brazil’s biofuel experience.
BRICS is promoting trade settlement in member currencies, contributing to gradual de-dollarisation without seeking to eliminate the US dollar.
