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Putin defends strengthening the capabilities of the New Development Bank of the BRICSPhoto by klimkin on Pexels
Business

Putin defends strengthening the capabilities of the New Development Bank of the BRICS

RTP Notícias13 September 2026 at 10:20

The President of Russia, Vladimir Putin, today defended 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 response capacity to meet 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 comprise it. Putin's defense 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

Strengthening the New Development Bank of the BRICS can directly affect Brazilian investors and companies that depend on international financing, especially in infrastructure and development projects. This movement 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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This is our short summary of a report published by RTP Notícias on 13 September 2026 at 10:20; the full text stays with the publisher. In our feed it sits under Business. We currently carry 22123 items in that section.

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