NDB to Promote South-South Cooperation Amidst Global Changes
Moscow (ANTARA) - The New Development Bank (NDB), as a platform representing the aspirations of the Global South, will address the priority issues of its member countries, promote South-South cooperation, and mobilise all parties to formulate solutions to address shared development challenges, said New Development Bank (NDB) President Dilma Rousseff on Friday (15/5).
The NDB’s 2026 annual meeting was held in Moscow with the theme “Financing Development in the Era of Technological Revolution.” During the opening ceremony, Rousseff stated that the global economy is facing increasing stability risks, escalating geopolitical tensions, and a growing trend towards unilateralism.
“In this context, the NDB must fully prepare itself to enhance resilience and uphold common security, with reliable funding sources being one of the top priorities,” said Dilma.
She emphasised that the NDB must clarify its strategic priorities, with infrastructure development remaining the foundation for economic growth.
According to her, in the face of complex and serious global challenges, the bank needs to optimise its strategy by fully implementing traditional financial instruments and new digital technologies, exploring potential capital, and increasing access to financing.
In a highly uncertain global environment, the NDB must be prepared to operate amidst various challenges and strengthen its financial resilience.
In a video speech, Russian Prime Minister Mikhail Mishustin said that in recent years, the NDB has evolved into a key pillar of the Global South’s financial system.
With a strong foundation to develop into a world-class innovative financial institution, the NDB helps countries determine their main development priorities, adopt appropriate development approaches, and create conditions that support corporate investment in both early and long-term projects.
Mishustin added that Russia consistently supports the establishment of a fair, robust, and sustainable global financial system to expand development opportunities for the Global South, and the NDB is well-positioned to play a unique role in this effort.
Headquartered in Shanghai, the NDB was officially established in July 2015. Initiated by the BRICS countries, this international financial institution is committed to mobilising funds for infrastructure development and sustainable development projects in BRICS member countries and other emerging market economies and developing countries.
As a multilateral financial institution, the NDB also strives to promote global economic growth and advance inclusive development worldwide.