China and Brazil are members of the BRICS group, which established the New Development Bank in 2015 to fund infrastructure and sustainable development projects in emerging markets and developing countries. On this trip to China, President Lula attended the inauguration ceremony in Shanghai for former Brazilian president Dilma Rousseff as head of the New Development Bank. #BRICS #NDB #ChinaEconomy | CGTN China24

The New Development Bank (NDB), established by BRICS countries, is rapidly becoming a major player in global finance, offering a fairer alternative for developing nations seeking infrastructure and sustainable development funding. With new members like Egypt, Algeria and the UAE joining, the NDB has already financed projects worth $32.8 billion, including thousands of kilometers of roads and water infrastructure. As more countries from the Global South turn to the NDB, its influence in reshaping

How the BRICS New Development Bank built a multibillion-dollar portfolio. In July 2015, Brazil, Russia, India, China, and South Africa, known as BRICS, established the New Development Bank. Algeria, Bangladesh, Egypt, the United Arab Emirates, and Uruguay are all new members of the New Development Bank (NDB), joining the original five BRICS founding members to expand the bank's reach for sustainable development projects. The BRICS-led development bank is spending nearly $28 billion in 92 project