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Putin advocates for strengthening the New Development Bank of the BRICS
Business

Putin advocates for strengthening the New Development Bank of the BRICS

SAPO Notícias13 September 2026 at 09:34

The President of Russia, Vladimir Putin, today advocated for strengthening the capabilities of the New Development Bank of the BRICS, since financing needs significantly exceed the volumes that the financial institution currently provides. Putin highlighted that the bank needs to increase its responsiveness to address the growing demand for financing from member countries of the group. The New Development Bank, created by the BRICS countries as an alternative to Western financial institutions, has been facing limitations given the scale of the development needs of the countries that are part of it. Putin's advocacy comes in the context of greater economic coordination among the nations that make up the bloc, which includes Brazil, Russia, India, China, and South Africa.

Why this matters

The strengthening of the New Development Bank of the BRICS may directly affect Brazilian investors and companies that depend on international financing, especially in infrastructure and development projects. This move comes in a context of rebalancing global economic relations, where emerging economies seek alternatives to the financial system dominated by Western institutions.

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