BRICS Bank considers including new member countries in the group

The New Development Bank (NDB) of BRICS, the group of emerging powers that brings together Brazil, Russia, India, China, and South Africa, is studying the possibility of including new countries in the group, as well as investment strategies aimed at the ecological transition, according to Brazil’s Minister of Finance, Fernando Haddad, today.

Speaking to the press after participating in the virtual meeting of NBD governors, in which Brazil’s Dilma Rousseff debuted as bank president, Haddad commented that “the governors presented their considerations on the bank’s agenda.”

“There was general talk of the need to expand funds; to study the inclusion of new members; and to focus investments on strategic issues, especially investments in the so-called Global South, aimed at the issue of ecological transition,” he added.

Asked whether the bank would offer loan guarantees to Brazilian investors selling to Argentina, the minister said there was “no room” to discuss this issue.

Since taking over as NDB president last month, Dilma Rousseff has highlighted the bank’s commitment to mobilize resources for investments in “clean and efficient energy, transportation, water and sanitation infrastructure, environmental protection, social infrastructure, and digital infrastructure.”

In addition, the new head of the NDB considers that the bank cannot act alone and that raising its own resources to finance projects is a “high priority”.

According to Brazil’s former president, the BRICS Bank is in a “unique position to lead the way towards the development model of a prosperous world”, respecting the characteristics of each country.

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