BRICS Bank Is Used As A Tool To Further The Economic Agenda Of The Member Nations

Dilma Rousseff, former President of Brazil and the newly appointed President of Shanghai-based New Development Bank, focuses on long term economic goals.

Leaders of the five founding members of the BRICS bloc are determined to attract new potential countries to join the BRICS+ alliance.

The BRICS bloc countries - Brazil, Russia, India, China and South Africa - created a financial tool that helps them execute their economic agenda. The tool they are using is the New Development Bank. The organization is often referred to as the “BRICS Bank” and effectively functions as a financial mechanism to materialize the objectives of the member nations.

New Development Bank is headquartered in Shanghai, China. It was founded in 2015 “with the purpose of mobilising resources for infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs).”