BRICS smashes the World Bank

The New Development Bank (NDB), established in 2015 by the BRICS nations—Brazil, Russia, India, China, and South Africa—serves as a powerful alternative to traditional Western-dominated financial institutions like the World Bank and the International Monetary Fund (IMF). With a mission to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries, the NDB represents a significant shift towards a more inclusive global financial system. Its expansion in 2021 to include new members such as Bangladesh, Egypt, the United Arab Emirates, and Uruguay further underscores its commitment to supporting development across the Global South. The bank focuses on financing projects that contribute to environmental protection, urban development, and the improvement of transportation and renewable energy sources among its member states, aligning with the Sustainable Development Goals (SDGs) and promoting economic growth and environmental sustainability. In this video, we take a closer look at the New Development Bank’s latest financial ventures, investments, and projects.