In 2025, the New BRICS Development Bank celebrated a decade of work, summing up the results that have significantly changed the financing architecture of the countries of the Global South. The structure created by the BRICS countries as an alternative to Western multilateral institutions has become a center of attraction for capital for infrastructural, environmental and socially significant projects over the past ten years. Unlike profit-oriented commercial banks, the NBR focuses on investments that can accelerate economic development and create long-term effects for society.
At the moment, the total amount of approved projects exceeds $39 billion. These funds are aimed at creating energy-efficient infrastructure, modernizing transport hubs, building schools and housing, and improving water supply and environmental systems. The NBR's decisions affect key sectors: clean energy, digital transformation, water resources, transport, sanitation infrastructure, and social development. In total, the bank has financed about 120 major projects, with a significant number of them related to India, China and South Africa.
One of the largest examples was the Delhi–Ghaziabad–Meerut rapid transit system, where the NDB allocated $500 million. High rates of urbanization and chronic congestion have made the project vital. The launch of the first sections of the corridor is already reducing travel time, reducing air pollution and creating a new model of urban mobility.
In China, the bank has financed the construction of an LNG terminal in Tianjin, which strengthens the country's energy security and reduces dependence on coal. At the same time, the sixth line of the Qingdao Metro was implemented, which became one of the largest infrastructure projects in the country and the winner of the international award for environmental construction technologies in difficult conditions.
Social projects also received a significant block of funding: support for affordable housing in India, development of Brazil's water systems, modernization of municipal infrastructure and environmental projects. In some cases, the bank has become the only institution capable of allocating funds on terms available to developing countries.
The NBR is actively switching to financing in national currencies, which reduces currency risks and contributes to the de—dollarization of international settlements. In 2025, lending in rupees, yuan and reais has become a key trend, and models of clearing systems and the creation of a unified BRICS settlement platform are being considered in the future.
However, the bank still faces challenges. Infrastructure projects often have low margins, which reduces the profitability of the portfolio. Nevertheless, experts note a high level of approval of projects (62.5%), which indicates their importance and economic justification.
For the future, the NBR is considering the development of new settlement platforms, the creation of a clearing center and an increase in the share of transactions in digital currencies. These ideas are closely related to the formation of the BRICS payment infrastructure and the search for alternatives to the dominance of the dollar. The single currency remains a concept for now, but experts suggest that the bank may become its operational core.
The NDB has already become a financial instrument that supports systemic change, from environmental transformation to urban modernization in the largest economies of the Global South. Its role in the international system is developing, and in the coming years it may become a key element of the new financial architecture emerging around the BRICS countries.
