New Development Bank a breath of fresh air
ABBEY MAKOE BRICS Bank, commonly referred to by the markets and industry alike as the New Development Bank (NDB), is proving to be a worthy multilateral lending vehicle particularly in the wake of the emergence of Covid-19 pandemic. Established in 2014 and kick-started its operations a year later from its headquarters in Shanghai, China, the NDB is the brainchild of Brazil, Russia, India, China and South Africa (BRICS). Established in 2006, BRICS seeks to improve the global South relations to a point of economic self-reliance and broader solidarity in matters of common interest from all spheres of life including international…