New Development Bank (NDB) News

The BRICS leaders: President Vladimir Putin (L), Prime Minister Narendra Modi (2L), President Dilma Rousseff, President Xi Jinping (2R), and President Jacob Zuma (R)

South Africa in the BRICS - A brave new world

Will the BRICS group and its New Development Bank (NDB), founded in 2014, challenge the West-led international order enforced by the financial institutions of the World Bank and the IMF?

President Vladimir Putin (L), Prime Minister Narendra Modi (2L), President Dilma Rousseff, President Xi Jinping (2R), and President Jacob Zuma (R) pose at the 6th BRICS summit in Fortaleza, Brazil on July 15, 2014 (AFP Photo/Nelson Almeida)

BRICS New Development Bank (NDB) to be operational by end of 2015, says South Africa's Ministry of Finance

The emerging market BRICS nations will have their own development bank by the end of the year, South Africa said Friday.