New Development Bank

The New Development Bank is a multilateral development bank established by Brazil, Russia, India, China, and South Africa to finance infrastructure and sustainable development projects, especially in emerging economies.

BRICS: An intergovernmental grouping whose original members are Brazil, Russia, India, China, and South Africa. The five founding countries created the bank as part of their cooperation.
Sixth BRICS summit: The 2014 summit in Fortaleza, Brazil, where BRICS leaders signed the agreement establishing the bank. The founding agreement was signed at this summit.
Shanghai Lingang Distributed Solar Power Project: A New Development Bank-supported project deploying distributed solar power in Shanghai’s Lingang area. It illustrates the bank’s financing of renewable-energy infrastructure in a founding member country.
Asian Infrastructure Investment Bank: A multilateral development bank established in 2016 to finance infrastructure in Asia and beyond. It is a newer, China-led lender with a similar infrastructure mandate but a different membership base.
New Development Bank membership: The countries admitted to the New Development Bank as members after its founding. Membership expanded beyond the five founding states, broadening the bank’s reach.
Agreement on the New Development Bank: The 2014 treaty that established the New Development Bank and set out its governance framework. This treaty formally created the institution and defined its initial structure.
Brazilian Renewable Energy Framework Loan: New Development Bank financing supporting renewable-energy investments in Brazil. It shows how the bank can channel funds through a national development institution.
Asian Development Bank: A regional multilateral development bank that finances development projects across Asia and the Pacific. Its longer-established regional role contrasts with the New Development Bank’s newer, BRICS-founded model.
New Development Bank capital structure: The arrangement of subscribed and paid-in capital supporting the New Development Bank. Capital subscriptions determine the bank’s lending capacity and members’ financial commitments.
Contingent Reserve Arrangement: A BRICS financial safety net that provides members access to foreign-currency liquidity during balance-of-payments pressures. It was established alongside the bank as a separate instrument of BRICS financial cooperation.

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