New Development Bank
103
MENTIONS
54
EPISODES
44
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Search complete. 103 mentions across 54 episodes found for "New Development Bank".
Sep 28, 2026
Kerry LaniganHOST
An intelligence apparatus that barely exists.
Kerry LaniganHOST
Jasmine Opperman spoke with Chris Sten on the NDB Sunday show.
Kerry LaniganHOST
Check out biznews.com for more.
Jasmine OppermanSOUNDBITE_SPEAKER
Interesting, July, August, we're starting picking up a group of...
Busi MabuzaGUEST
What's great though is that in addition to that, we are now trying to, from year to year, carry some of the more important projects along with us.
Busi MabuzaGUEST
So in institutions such as the New Development Bank was mooted, I seem to recall, in Brazil.
Busi MabuzaGUEST
but was launched under the chairship of another country.
Busi MabuzaGUEST
And on trade and investment, we are now in our campaigns trying to ensure, and I was so pleased that Prime Minister Modi this year actually pronounced and said, BRICS Business Council, we've heard you.
Pravin SawhneyGUEST
And in fact, it is Prime Minister Manmohan Singh who had proposed in 2012 the need to have a bank for the BRICS.
Pravin SawhneyGUEST
And it was his suggestion that in 2015, the BRICS bank or the New Development Bank came into being headquartered in Shanghai.
Pravin SawhneyGUEST
And the first president or the leader of the bank was an Indian banker, K.V. Kamath.
Pravin SawhneyGUEST
So it is India that proposed that.
Radhika DesaiHOST
And as long as they lasted, the world economy was much more stable and, of course, experienced the golden age of growth because behind the walls of capital controls, countries were indeed free to manage their economies for development and growth.
Michael HudsonGUEST
Well, since you said we're winding down, I want to point out that Lavrov gave a speech two days ago and he said, well, there's been talks of BRICS, New Development Bank, but the BRICS countries are a broad bell-shaped curve of political formations.
Michael HudsonGUEST
Not all are very progressive.
Michael HudsonGUEST
A lot are neoliberal.
K.J. NohGUEST
Some ASEAN countries are part of BRICS and of the BRI.
K.J. NohGUEST
And so there is a slow kind of dissolving of this Cold War agenda, which is increasing with its multiple multilateral organizations and institutions, including the AIIB and the Bricks Bank and the SEO Bank, etc., So there's a kind of a slow dissolution of this Cold War U.S. hegemonic subcontractor role that has been designated for all of these global South countries that were under U.S. sway.
K.J. NohGUEST
That process happening, it's happening slowly.
K.J. NohGUEST
It's not happening fast enough.
Warwick PowellGUEST
And those procedures and institutions and mechanisms will only consolidate and expand going forward.
Warwick PowellGUEST
We have institutions like the New Development Bank and also what is likely to be in the not too distant future, an SCO investment bank playing central roles in facilitating the settlement of accounts for both investment and in trade between the member states in national currencies.
Warwick PowellGUEST
Technology-wise, We have the means by which people from and organisations, obviously from the different countries, are able to make purchases in very simple and straightforward ways, whether it's through QR code payment integrations or other platforms.
Warwick PowellGUEST
So, again, I think it's important to recognise that a lot of the work that gets done is just... work that's done without the big announcements.
Warwick PowellGUEST
Now...
Warwick PowellGUEST
CBETS is obviously a very China-oriented infrastructure, but because of its integration or its pathway into the Enbridge process, it is possible now for something like Enbridge or something very similar to Enbridge to become the operating system for CBETS.
Warwick PowellGUEST
the SEO bank, the new development bank, et cetera, et cetera.
Warwick PowellGUEST
So they don't necessarily all have to run on Enbridge as Enbridge exists today, but there is no technical reason that stops them from operating discrete networks that have shared nodes and ledgers where necessary.
Simon HuntGUEST
I don't think collectively anything new really emerged.
Simon HuntGUEST
The SCO and the BRICS Development Bank is going to become more active.
Simon HuntGUEST
I think the decision to set up an SCO bank was actually probably pretty, pretty affirmative.
Simon HuntGUEST
But these things take time.
DebbieHOST
So these are the reasons the BRICS was created.
DebbieHOST
So one of the things, for example, that the BRICS has done is they have created something called the New Development Bank.
DebbieHOST
Now, this is very interesting.
DebbieHOST
Normally, when we want funding, when a country wants funding to do anything, they and they don't have enough funds of their own.
Surabha GuptaGUEST
And its ecosystem needs to be undergirded by some sort of a multilateral setup or a body, an institutionalized body like we have Eichel, like we have the BRICS.
Surabha GuptaGUEST
Just like, you know, a generation earlier, we had the AIIB and we have the New Development Bank.
Surabha GuptaGUEST
Think of the AI initiative, something on those lines, something which all BRICS have a vested interest in success.
Surabha GuptaGUEST
and which must be done on a multilateral and on a plural basis for it to succeed.
Arena MorrisonGUEST
The bank is a development bank, so it has a specific mandate for development infrastructure and also development infrastructure in green projects, just pushing that as much as possible.
Arena MorrisonGUEST
The BRICS have decided that we need infrastructure in order to... find economic prosperity okay to be able to also lend in a way that is more affordable for the bricks okay so that is what the bricks had set um aside what it wanted to achieve with the bank fine um recently you know with the with the finance ministers and what they what they found right and they were pushing for for more um For more aspects where lenders could have more benefits, essentially, because we have to remember that not all of the members of the New Development Bank are actually members of the BRICS partnership.
Arena MorrisonGUEST
Right.
Arena MorrisonGUEST
So this is it's an interesting moment because the bank in itself is not a bank that's offering fiscal support.
Arena MorrisonGUEST
That's why it is monumental.
Arena MorrisonGUEST
But it's not the only bank to provide loans in currencies that are more accessible.
Arena MorrisonGUEST
And it's been earning this from the Asian Development Bank as well, which is also quite big and has a lot of interests in the New Development Bank.
Arena MorrisonGUEST
And so the New Development Bank has also been able to grow because of all of the interbank cooperation that has been taking place.
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