Jul 07, 2015 by Coalition

Groups Propose New Development Model for BRICS New Development Bank

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This week as the BRICS countries (Brazil, Russia, India, China, and South Africa) met in Ufa, Russia to launch the New Development Bank, over 40 civil society organizations and social movements from around the world sent an open letter, urging the BRICS to break with the failed development models of the past and ensure that the NDB is truly something new. The letter lays out 4 Principles for a New Development Model: 1) Promote development for all; 2) Be transparent and democratic; 3) Set strong standards and make sure they’re followed; 4) Promote sustainable development.

Read the letter here:

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