The New Development Bank was established with the purpose of mobilising resources for infrastructure and sustainable development projects in BRICS (Brazil, Russia, India, China and South Africa) countries and other emerging market economies and developing countries, complementing the efforts of multilateral and regional financial institutions for global growth and development. In 2021, NDB initiated membership expansion and admitted Bangladesh, Egypt, United Arab Emirates and Uruguay as its new member countries. The New Development Bank (NDB) has successfully issued its debut ZAR bond in the South African bond market, becoming the highest rated issuer to issue in this market since 2015. This allowed the NDB to exercise its option to upsize the trade from R1 billion to R1.5 billion. DO you think that the west need to embrace BRICS and work together ?
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