BRICS Bank (New Development Bank)

The BRICS Bank, officially called the New Development Bank (NDB), is an international financial institution established by the BRICS countries (Brazil, Russia, India, China, and South Africa). It aims to fund infrastructure and sustainable development projects in emerging economies to promote economic growth and regional integration. The bank provides loans and investments to support developmental initiatives, reducing reliance on traditional Western financial institutions. By pooling resources and expertise, BRICS countries seek to foster economic cooperation, address development gaps, and enhance global financial stability in a more balanced way.