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New Development Bank

New Development Bank
The latest news and top stories on New Development Bank. A prominent Shanghai, China-based international financial institution, the New Development Bank (NDB) was established by the BRICS states to mobilise resources for infrastructure and sustainable development projects in emerging economies and developing countries. Its main areas of focus include clean energy, transport, water, environmental protection and digital and social infrastructure. The NDB, with regional offices globally, is recognised for its role in financing crucial development initiatives and complementing existing financial institutions.
The International Organisation for Mediation’s Hong Kong headquarters at the site of the old Wan Chai Police Station in Wan Chai on May 30, 2025. Photo: Dickson Lee
Hong Kong politics

Opinion | Hong Kong has a chance to think bigger about its place in the world

With international organisations moving away from the West, Hong Kong has an opportunity to go beyond being ‘Asia’s World City’ and become a multilateral hub.

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China-Latin America relations

China urges Brazil to jointly repel ‘external challenges’ as ties deepen

China trade

China-led SCO bloc looks to fast-track plan for new bank, rival Western lenders

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Brics

Opinion | Brics is less a structure than a sentiment

Despite lacking geopolitical alignment, Brics captures a prevailing mood among emerging economies that won’t fade away any time soon.

Brazilian President Luiz Inacio Lula da Silva (left) and President Xi Jinping attend the 2023 Brics Summit at the Sandton Convention Centre in Johannesburg, South Africa, on August 24, 2023. Photo: AFP
Banking & finance

From banking to AI, these are the major economic bodies based in China

Amid what China sees as US’ polarising unilateral measures, a push for ‘global governance’ gives rise to a network of multi-country agencies.

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Climate change

Opinion | How Hong Kong can distinguish itself as a climate finance hub

The city should lead by directing capital to projects that modernise grids, electrify transport and accelerate green supply chains.

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Climate change

Opinion | A global green industrialisation initiative can have a ‘win-win-win’ outcome

China’s green manufacturing capacity could be aligned with the West’s technological and capital strengths and the Global South’s development needs.

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Illustration: Craig Stephens
Diplomacy

Opinion | China is supporting multilateralism one institution at a time

With a new organisation to promote mediation, among other global bodies, China is signalling its enthusiasm to get more involved in world governance.

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Indonesia

Will Indonesia’s plan to join Brics bank lead to heavier debt burden?

With Indonesia having to pay to join the New Development Bank, it should tap foreign investors for project financing instead, analysts say.

Brics

Opinion | Brics is slowly but surely chipping away at US dollar dominance

US dollar supremacy isn’t going away any time soon. But through scaling up of initiatives and good governance, Brics can usher in a multipolar monetary order.

A person walks past an installation of the rupee logo and Indian currency coins outside the Reserve Bank of India’s headquarters in Mumbai on April 9. Photo: Reuters
SCO

Opinion | How an SCO development bank could shift the global financial order

The symbolism of launching a financial institution amid renewed US trade tariffs and debates over de-dollarisation should not be underestimated.

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Chinese President Xi Jinping speaks at a Shanghai Cooperation Organisation Plus meeting in Tianjin on September 1. Photo: Xinhua
Asean

Opinion | Through Brics, Indonesia offers its vision of inclusivity to the world

Indonesia’s bridge-building approach shows power lies not only in weapons or markets, but also in fostering understanding and collaboration.

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Brics

Brics draws Trump anger, few leaders

The Brics summit sparked a threat of extra tariffs from US President Donald Trump, even without the presence of Chinese President Xi Jinping and other leaders.

Brics

Brics leaders urge cohesion, trade and use of local currency to grow clout

At Brics business forum, Malaysia’s Anwar Ibrahim calls on emerging markets bloc to learn from Asean to challenge Western dominance.

Malaysian Prime Minister Anwar Ibrahim (left) and Brazilian President Luiz Inacio Lula da Silva (right) shake hands at the opening ceremony of the Brics Business Forum in Rio de Janeiro, Brazil on Saturday. Photo: Ricardo Stuckert/ Brazil’s Presidency
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