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| Xi Jinping praised the role of the BRICS Development Bank |
| Shanghai, 30.04.2025 |
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| The BRICS Development Bank (NDB) has become a new force in the global financial system, Chinese President Xi Jinping said on Tuesday at a meeting with NDB President Dilma Rousseff. TASR reported this based on a report by the TASS agency.
"The New Development Bank is the first multilateral development institution founded and led by emerging market and developing economies. It has become a new force in the international financial system and a golden symbol of cooperation of the Global South," Xi Jinping was quoted as saying by Chinese state television. The Chinese leader called for strengthening the voice of the Global South in the discussion on reforms of the international financial architecture, protecting the legitimate rights and interests of developing countries and supporting them on the path to modernization. He described the joint rise of the Global South as an important milestone in maintaining world peace, promoting common development and improving global governance.
The New Development Bank was established by the BRICS countries in July 2014. It has eight members: Bangladesh, Brazil, Egypt, India, China, the United Arab Emirates, Russia and South Africa. The bank aims to finance infrastructure and sustainable development projects in BRICS member states and developing countries. Fitch Ratings and S&P Global Ratings have assigned the institution a credit rating of AA+.
Since its establishment, the bank has approved 98 projects worth a total of more than $33 billion (€29.05 billion) to support areas such as transport, water management, clean energy, digital and social infrastructure, as well as urban development, TASS reported.odkaz na stránku
(€1 = $1.1358)
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