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The Latest Breaking News from NDB

Iran to join BRICS development bank soon, central bank governor Abdolnaser Hemmati says

Iran plans to join the New Development Bank soon. This move comes as the nation faces international sanctions and seeks alternative financial channels. Iran joined BRICS in 2024 and desires shareholder status in the NDB. The bank was established by BRICS nations to finance development projects. BRICS members aim to…

The Economic Times

Iran to join BRICS bank soon as Trump claims US controls Tehran’s frozen assets

Iranian central bank governor Abdolnaser Hemmati said in a state media report on Wednesday that Iran will soon join the New Development Bank, the multilateral lender established by the BRICS group of nations. This comes ahead of a BRICS finance meeting scheduled to be held in India.

The Times of India

NPS gets new investment option: Pension body allows NPS funds to invest in these rupee bonds

The PFRDA has updated NPS investment guidelines, effective May 13, 2026, to include rupee-denominated bonds issued by the New Development Bank (NDB). This expands investment options for both government and private sector NPS funds, previously limited to bonds from IBRD, IFC, and ADB. Other conditions like credit rating and maturity…

The Economic Times

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Algeria joins the BRICS New Development Bank

Algeria has been approved for membership in the BRICS New Development Bank (NDB), the country's finance ministry has announced.

Radio France Internationale

How the BRICS nations failed to rebuild the global financial order

At its launch almost a decade ago, the BRICS nations’ New Development Bank (NDB) was celebrated as a chance for countries across the Global South to break free of the US-dominated IMF and World Bank and rewrite the rules of financing global development. But while the number of nations signed…

France 24

BRICS Bank Eyes Cutting Dollar Reliance With Local Currency Loans

A deliberate attempt by the Shanghai-based New Development Bank to reduce dependency on the US is to offer loans.

Zenger

BRICS 2023 summit: Common currency, membership expansion, Ukraine on agenda

South Africa hosts a summit of the BRICS group of nations and others in the Global South next week who are seeking to balance Western dominance of the world order while dealing with their own internal divisions.

The Times of India

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No decision yet, says Russian diplomat on Putin attending G-20 summit

Russia's Deputy Chief of Mission says decision on President Vladimir Putin's attendance at G-20 summit not taken yet. BRICS members working on settlements in national currencies, including single currency proposal. BRICS agenda closely corresponds to G-20 priorities.

The Hindu

Swiss say dozens of Russian spies disguised as diplomats are active in the Alpine nation

Switzerland’s main intelligence agency says Russia continues to have dozens of spies disguised as diplomats at its embassy in Bern and its mission to the United Nations in Geneva, making the Alpine nation a hotspot for Russian espionage activity in Europe

The Independent UK

Brazil's Lula takes swipe at IMF and World Bank on China trip

Brazilian President Luiz Inacio Lula da Silva has praised the Shanghai-based New Development Bank (NDB) on his trip to China, saying it "frees emerging countries from submission to traditional financial institutions". The NDB was created by the BRICS group and is headed by his predecessor Dilma Rousseff. Meanwhile in Washington,…

France 24

Former Brazilian Leader Elected President of Multilateral Bank NDB

Dilma Rousseff will helm the Shanghai-headquartered New Development Bank, which was set up to finance projects in emerging markets and developing countries

Caixin Global

Brazil's Lula wants former President Rousseff to run New Development Bank

Brazilian President Luiz Inacio Lula da Silva confirmed he will appoint former President Dilma Rousseff to head the New Development Bank (NDB) when there is a vacancy, Lula said on Thursday referring to the institution the BRICS group of emerging economies established.

Reuters

Egypt to Join the New Development Bank within Weeks

Egypt is moving forward with the procedures of officially joining the New Development Bank (NDB), which was established by the BRICS countries to enhance cooperation in infrastructure and sustainable development. The Egyptian parliament is scheduled to officially discuss the final procedures for Cairo to join the Bank in the coming…

Asharq Al-Awsat

Brick by brick: On the 14th BRICS Summit

BRICS countries have shown they can cooperate where their interests align

The Hindu

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The Times of India

India's economic growth likely to be robust at 8.9% in current fiscal: Finance minister at NDB

NEW DELHI: India's economic growth is likely to be robust at 8.9 per cent in the current financial year, reflecting the country's strong resilience and speedy recovery, finance minister Nirmala Sitharaman said on Thursday.

The Times of India

Developing innovative products, incentivising investment crucial for growth: Finance minister

NEW DELHI: Developing innovative financial products and services, and incentivising strategic investments are crucial for maximising development impact, finance minister Nirmala Sitharaman said on Thursday.

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