“The New Development Bank is looking for another logic outside the conditions,” the head of the BRICS Bank explained during an event in Rio.
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247 – The President of the New Development Bank (NBD), known as the BRICS Bank, former President of the Republic Dilma Rousseff, participated on Wednesday (6) in the signing ceremony of fundraising contracts between BNDES and the National Bank of Dubai.
“The New Development Bank seeks another logic outside the conditionalities, which impose the bank’s own political and investment vision, without respecting the sovereignty of countries. The BRICS group has become stronger, but has suffered the consequences of overlapping crises, inflation, low growth, and climate and climate change.” “Health crises and geopolitical tensions,” Dilma said in her speech during the event held at the BNDES headquarters in Rio.
She then highlighted the potential of green investments in Brazil. He stated that the Political Action Committee “facilitates investments and that the National Bank of Dubai includes this platform.”
“Investing in local currencies is strategic for banks. This is part of the trend in the world of currency diversification. We had a unipolar system, and now there is a new trend of diversification. In this sense, the bank plans to issue issues in local currencies.” riyal, which reduces the risks of investments,” Dilma said.
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After the speech, Dilma, together with BNDES President Aloisio Mercadante and President Lula, signed fundraising contracts between BNDES and NBD worth US$1.7 billion. Long-term resources will be granted to BNDES to support public and private projects aimed at reducing the emission of polluting gases, adapting to climate change and supporting sustainable infrastructure projects.
This institution was established in 2014, and its founding countries are Brazil, Russia, India, China and South Africa (BRICS). Later, Bangladesh, Egypt, the United Arab Emirates and Uruguay were included, which still appear as Potential member Until the final deposit of the instrument of accession. Since its establishment, the New Development Bank has approved 98 projects worth more than US$32 billion. The Foundation’s total assets amount to 26.3 billion US dollars, including 14.4 billion US dollars in loans granted (as of 12/31/2022). The project portfolio in Brazil, as of 12/31/2022, amounted to 5.7 billion US dollars, distributed over 19 projects.
