BRICS Bank Approves Nearly $7 Billion for Brazil, with India Leading in Total Financing
The New Development Bank, known as the BRICS Bank, has approved nearly $7 billion for 29 projects in Brazil since 2015.
This funding supports roads, energy, sanitation, and technology upgrades across the country. About $4 billion of this money has already reached projects on the ground.
Brazil’s share makes up about 18% of all BRICS Bank financing. However, India receives the largest portion, with 27% of the bank’s total funding.
China follows with 26%, while South Africa and Russia receive 17% and 13% respectively. The bank has approved over $40 billion for more than 120 projects worldwide.
In Brazil, the bank’s money has gone to modernize electricity grids, expand renewable energy in states like Bahia and Minas Gerais, and improve sanitation in cities.
After major floods in Rio Grande do Sul in 2024, the bank quickly provided $495 million for rebuilding, with local partners adding more funds to reach $1.1 billion.
| Country | Share of Total BRICS Bank Financing (%) |
|---|---|
| India | 27.1 |
| China | 25.9 |
| Brazil | 17.9 |
| South Africa | 16.5 |
| Russia | 12.6 |
BRICS Bank Approves Nearly $7 Billion for Brazil, with India Leading in Total Financing
The BRICS Bank often lends in local currencies, not just dollars. This helps protect countries like Brazil from sudden changes in exchange rates and interest rates, making loans safer and more predictable.
The bank’s leaders say this approach also helps local businesses and markets grow. The bank is expanding, with Colombia and Uzbekistan joining recently. This growth increases its financial strength and reach in emerging markets.
The main story is that the BRICS Bank gives Brazil and other members a new way to fund big projects without relying only on Western banks.
By focusing on local needs and using local money, the bank aims to help countries build stronger economies and recover faster from crises.
This practical approach makes the BRICS Bank an important player for Brazil’s future development.
📌 Read our complete guide: BRICS in 2026: Complete Guide to the 11-Nation Bloc Reshaping Global Trade
More: Latin America news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
Part of our ongoing coverage
Africa: The New Scramble — the great-power contest over the continent.
Read More from The Rio Times