Sep 08, 2017

New Development Bank is BRICS’ best card

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According to Caio Borges, Prof. Karin Costa Vazquez and Supriya Roychoudhury, if question marks on the future of BRICS are repeatedly raised, the New Development Bank (NDB) is probably the most concrete avenue through which the grouping can deepen co-operation. The NDB’s stated commitment to sustainable infrastructure is perhaps its most important differentiating feature, carving out a niche for itself among existing multilateral development banks.
But apart from stating that sustainable development will be linked to the financing of infrastructure projects, the NDB has been less clear about how it will ensure that these projects will be rooted in sound social and environmental practices. Addressing this question will be critical as the NDB implements its five-year strategy and realises its vision around sustainable development.

To see the full article in Financial Times, access here.