EconomyBRICS is building a bank for the Global South
The New Development Bank plans to raise the share of projects financed in local currencies from 30% to more than 45% by 2031. Established by Brazil, Russia, India, China and South Africa, the bank has approved 139 projects worth about $42.9 billion and is expanding into green infrastructure, digitalization and AI to reduce developing countries’ reliance on the US dollar.
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CGTN★★★★☆2026-09-11 10:31Original
BRICS is building a bank for the Global South
Economy