How the BRICS New Development Bank built a multibillion-dollar portfolio. In July 2015, Brazil, Russia, India, China, and South Africa, known as BRICS, established the New Development Bank. Algeria, Bangladesh, Egypt, the United Arab Emirates, and Uruguay are all new members of the New Development Bank (NDB), joining the original five BRICS founding members to expand the bank's reach for sustainable development projects. The BRICS-led development bank is spending nearly $28 billion in 92 project
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