The statement from BRICS emphasized a theme treated by the group’s financial area and emphasized the actions of the New Development Bank (NDB, on the acronym in English, known as Banco dos Brics) to expand financing in local currency.
The block also highlighted other activities of the institution, such as mobilizing resources, fostering innovation, diversifying financing sources and supporting impactful projects that promote sustainable development, reduce inequality and promote investments in infrastructure and economic integration.
“We also recognize and encourage the continuous expansion of their number of members and the strengthening of their governance structure, which increase institutional resilience and operational effectiveness, to continue to perform their purpose and functions in a fair and non -discriminatory manner,” the leaders wrote.
The group also “fully” supported the leadership of former Brazilian president Dilma Rousseff, who was reappointed to the NDB presidency and “received strong support from all members.”
“We greeted the bank’s firm progress toward its consolidation as a global institution for development and stability. This trajectory reflects our shared commitment to strengthen financial mechanisms that promote inclusive and sustainable development in the global south.”
