"China proposes the 'BRICS+' cooperation model to advocate for more countries to cooperate, which is in line with the business expansion direction of the BRICS New Development Bank." Vladimir Ka, Deputy President and Chief Operating Officer of the BRICS New Development Bank Zbekov told this reporter a few days ago: "The 14th BRICS Summit has added new impetus to the work related to the New Development Bank and injected new vitality into global development."
Kazbekov said that 10 years ago, the BRICS leaders met for the fourth time to discuss the possibility of establishing a new development bank.The following year, BRICS leaders agreed to establish the BRICS New Development Bank.This is a significant achievement in the BRICS cooperation process.The New Development Bank provides development financing for the BRICS countries and other emerging markets and developing countries, and strongly supports the deepening of cooperation among the BRICS countries.
"Since the establishment of the BRICS New Development Bank, the approved projects cover clean energy, transportation, digital infrastructure and other fields, spanning four continents. The project fully takes into account the urgent needs of member states for development and post-pandemic economic recovery." Katz Bekov said: "China has provided all-round support for the New Development Bank and actively promoted efficient cooperation among the BRICS countries."
Kazbekov said that the establishment of the BRICS New Development Bank conforms to the requirements of the times and supports the financing of infrastructure and sustainable development projects in BRICS and other emerging markets and developing countries.In addition, the NDB will firmly carry forward the spirit of the BRICS and deepen cooperation on the basis of broad consensus.
In May this year, the New Development Bank of BRICS successfully issued RMB 7 billion bonds with a maturity of 3 years in the Chinese interbank bond market, providing financial support for the high-quality sustainable development of emerging markets and developing countries. It fully reflects the importance of China's bond market in the global financial market.Kazbekov said that the BRICS New Development Bank is financing large-scale project cooperation among BRICS countries, and has huge financing potential in aerospace, biotechnology and other fields.
The COVID-19 pandemic has had a severe impact on global development. Under the BRICS cooperation framework, the BRICS New Development Bank has provided a considerable amount of emergency assistance to relevant countries.Kazbekov said that so far, the New Development Bank has issued 10 billion US dollars of loans specifically for the BRICS countries to fight the epidemic, and all of them have been implemented in a short period of time.In addition, according to the latest overall strategy of the New Development Bank, in the next five years, the New Development Bank of the BRICS countries will provide 30 billion US dollars of financial support to member countries, of which 40% of the funds will be used to slow the process of climate warming.
Kazbekov said that the BRICS New Development Bank appreciates China's efforts to host the 14th BRICS Summit, deepen BRICS cooperation and promote high-quality development.The New Development Bank will pay close attention to the BRICS cooperation, respond in a timely manner and adjust its work direction at any time, and maintain closer ties with all member states.(Our reporter Qu Song)
