From local currencies to AI: BRICS is building a bank for the Global South

By 2031, the share of New Development Bank (NDB) projects financed in local currencies "will exceed 45%," Russian Finance Minister and NDB Board of Governors Chair Anton Siluanov said in May. It now stands at 30%, he added at the bank's Annual Meeting. It's a mission the bank was built for. Established in 2015 by Brazil, Russia, India, China and South Africa, the Shanghai-based NDB exists to mobilize resources for infrastructure and sustainable development across the Global South. 📺 Subscribe to our YouTube channel and stay updated with our latest analysis and interviews:👇 https://www.youtube.com/channel/UCgrNz-aDmcr2uuto8_DL2jg 👈 Download our APP on Apple Store (iOS): https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8 Download our APP on Google Play (Android): https://play.google.com/store/apps/details?id=com.imib.cctv For more: https://www.cgtn.com/video Most watched videos: Impossible Challenge: 30 seconds to count banknotes BLINDFOLDED https://www.youtube.com/watch?v=ZmP_Ybj-jws Impossible Challenge: Gymnastics Boy Arat Hosseini from Iran! https://www.youtube.com/watch?v=8sxX--U4c8w Impossible Challenge: How to calm babies in 5 seconds? https://www.youtube.com/watch?v=kR3q9sXM7WA