BRICS summit 2014. President of Russia Vladmir Putin, Prime Minister of India Narendra Modi, Former President of Brazil Dilma Rousseff, President of China Xi Jinping, President of South Africa Jacob Zuma. Credits: www.kremlin.ru/Wikimedia Commons. Some rights reserved.
This month, the BRICS New Development Bank (NDB) concluded its second Annual Meeting, under the theme of “Building a Sustainable Future”. Now that the NDB is up and running and issuing financing for development projects, a key question on the minds of those watching the bank, is what is the NDB’s strategy for sustainable development?
The NDB, launched by the governments of Brazil, Russia, India, China and South Africa in 2015, began slowly and cautiously with several small-scale energy projects in each of the BRICS countries. The institution is now eying larger infrastructure investments as it sets ambitious targets to expand country membership, move into the private sector, and double lending annually.
