NDB (New Development Bank)

The New Development Bank (NDB) is an international financial institution established by BRICS countries (Brazil, Russia, India, China, South Africa) to support infrastructure and sustainable development projects in emerging economies. Its goal is to promote economic growth and reduce poverty by providing funding for projects like transportation, energy, and urban development. Unlike traditional banks, the NDB focuses on cooperation among developing nations to enhance their financial capacity and foster sustainable development, encouraging regional collaboration and reducing dependence on Western financial institutions.