Entry into force of the Agreement on the New Development Bank (NDB)

The Brazilian Government, in the capacity as depositary of the Agreement on the New Development Bank (NDB), registers with satisfaction that all requirements for the deposit of instruments of acceptance, ratification or approval of the agreement, signed on July 15, 2014, at the Fortaleza Summit, have been met. The Agreement on the NDB enters into force as from today. The signatories are, in addition to Brazil, South Africa, China, India and Russia, the BRICS countries .

The NDB will mobilize resources for infrastructure and sustainable development projects in the BRICS and other emerging economies and developing countries. It is a mechanism that intends to complement the resources of other multilateral, regional and national development banks, given the significant shortfall in resources for infrastructure and sustainable development projects and the increasing demand for investments in those areas. The Bank represents a concrete contribution on the part of the BRICS towards meeting the systemic challenges related to international development, especially with regard to greater integration between emerging and developing economies.