New Development Bank (NDB)
The New Development Bank, popularly called the "BRICS Bank," was established by the 2014 Fortaleza Declaration and became operational in 2016. It is headquartered in Shanghai and was created to mobilise resources for infrastructure and sustainable development in BRICS and other emerging economies, as an alternative to Western-dominated Bretton Woods institutions (World Bank, IMF).
- Headquarters: Shanghai, China.
- Authorised capital: US $100 billion.
- First President: K.V. Kamath (India); current President: Dilma Rousseff (Brazil).
- Expanded membership (2026): The NDB has grown beyond BRICS nations; recent additions include Colombia and Uzbekistan, bringing NDB membership to 11+ countries.
- The NDB promotes local-currency financing to reduce exposure to US dollar volatility — directly aligned with the de-dollarisation agenda at this FM meeting.
● Tracked since March 25, 2026 · last seen September 16, 2026 · updates as the daily brief publishes
12 Sep '26
18th BRICS Summit, New Delhi: New Delhi Declaration 2026: Key Outcomes
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12 Sep '26
Iran's Push for New Development Bank Membership at the BRICS Summit
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12 Sep '26
Xi Jinping's First Delhi Visit in Seven Years: BRICS Institutions in Focus
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10 Sep '26
BRICS 2026: India's Trade Heft, NDB Stake and the De-Dollarisation Push
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05 Sep '26
India to Host iBRICS Sovereign Capital Summit Alongside 18th BRICS Summit
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18 Jun '26
First BRICS MSME Forum Held in Agra Under India's 2026 BRICS Chairship
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BRICS
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BRICS as a Grouping
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Strategic Autonomy
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New Collective Quantified Goal (NCQG) on Climate Finance
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India's BRICS Chairmanship 2026
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India's BRICS Chairship 2026
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