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Alsharq Tribune-Otaify
The New Development Bank (NDB), as a platform voicing aspirations of the Global South, will amplify member states' priority concerns, advance South-South cooperation, and mobilize all parties to formulate solutions to tackle common development challenges, Dilma Rousseff, president of the NDB, said Friday.
The 2026 NDB annual meeting was held in Moscow under the theme "Development Financing in an Era of Technological Revolution." At the opening ceremony, Rousseff said the global economy is facing mounting stability risks, escalating geopolitical tensions and growing unilateralist tendencies.
Against such a backdrop, the NDB must fully prepare itself to boost resilience and uphold universal security, with reliable funding sources ranked high among top priorities, she said.
She stressed that the NDB should clarify its strategic priorities, with infrastructure development remaining the cornerstone of economic growth. Confronted with complex and grave global challenges, the bank should optimize its strategies by fully applying traditional financial tools and emerging digital technologies, tap into capital potential and improve financing access. Amid a highly uncertain global environment, the NDB must get ready to operate amid headwinds and consolidate financial resilience.
Russian Prime Minister Mikhail Mishustin delivered a video address, stating that over recent years, the NDB has emerged as a core pillar of the Global South's financial system. Boasting solid foundations to develop into a world-class innovative financial institution, it helps countries identify key development priorities, adopt sound development approaches, and create favorable conditions for corporate investment in early-stage and long-term projects alike.
Mishustin added that Russia has consistently advocated for establishing a fair, sound and sustainable global financial system to expand development opportunities for Global South nations, and the NDB is well-positioned to play a unique role in this cause.
Headquartered in Shanghai, the NDB was officially inaugurated in July 2015. Co-initiated by BRICS countries, this international financial institution is committed to mobilizing funds for infrastructure construction and sustainable development projects within BRICS members and other emerging market economies and developing countries. As a multilateral financial institution, it also endeavors to boost global economic growth and advance inclusive development worldwide.
