# BRICS is building a bank for the Global South

https://mins.news/en/item/55434

- CGTN, 2026-09-11 10:31 UTC
- Economy
- Original: https://news.cgtn.com/news/2026-09-11/BRICS-is-building-a-bank-for-the-Global-South-1QlPN38yalO/p.html?UTM_Source=cgtn&UTM_Medium=rss&UTM_Campaign=World

> 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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