Key facts
- The New Development Bank, established by the BRICS group, will lead a global alliance to combat hunger this year.
- Brazil made the announcement regarding the bank's role.
The New Development Bank (NDB), established by the BRICS group of emerging economies, is set to play a leading role in a global alliance focused on combating hunger this year. Brazil announced the bank's prominent position in this initiative, signaling an expansion of the NDB's mandate beyond traditional development finance into critical areas of global food security.
The BRICS group, which includes Brazil, Russia, India, China, and South Africa, established the NDB in 2014 to finance infrastructure and sustainable development projects in member countries and other emerging economies. The bank's increasing involvement in global alliances aimed at addressing humanitarian issues like hunger underscores its growing influence and strategic objectives.