New Development Bank

organization

Last mentioned: Feb 27, 2026

Timeline

  1. Growth Phenomenon Speech

    Putin invites members to lead a new era of global growth centered in the Global South.

  2. Payment Prototype

    Technical specifications for the BRICS Bridge digital payment system are unveiled.

  3. BRICS Expansion

    Egypt, Ethiopia, Iran, and the UAE formally join the bloc, doubling its membership.

Stories mentioning New Development Bank 1

economy Neutral

Putin Signals Shift to 'Global South' Growth Engine at BRICS Summit

Russian President Vladimir Putin has invited BRICS member states to participate in what he terms a 'new phenomenon' of global growth centered in the Global South. The initiative seeks to leverage demographic shifts and independent financial infrastructure to create a multipolar economic alternative to Western-led systems.

3 sources