The New Development Bank Quietly Delivers During India’s BRICS Year

The New Development Bank (NDB), established by the BRICS grouping, demonstrated tangible achievements while India served as its chair in 2026. Co-founded by India in 2012, the NDB's performance can be assessed by three key metrics: loan amounts, disbursed funds, lending focus, and funding sources. By June 2026, the NDB approved $44 billion in loans for 141 projects in clean energy, transport, water systems, and digital infrastructure, with approximately $25 billion already disbursed.

This level of disbursement is crucial, as many development banks issue large loans but see significantly less actual use. The NDB's impact is evident in its projects: 2,400 megawatts of clean energy capacity, 1,400 kilometers of tunnels and canals, 43 schools built or upgraded, and enhanced sewage treatment capacity. India's chairmanship expanded the NDB's membership to include Algeria, Bangladesh, Egypt, the UAE, and Uzbekistan, bringing together countries from South and Central Asia, Africa, the Middle East, and Latin America.

India's unique position within the bank, as both creator and significant borrower, underscores its commitment. Indian Finance Minister Nirmala Sitharaman highlighted the NDB's value in knowledge-sharing, emphasizing its role in planning cities and infrastructure. NDB President Dilma Rousseff, a former Brazilian president, acknowledged India's Viksit Bharat development plans as a model for other members.

In terms of funding, the NDB benefited from India's chairmanship by raising $7 billion from China through a bond sale and launching a BRICS-NDB knowledge portal. These actions indicate a commitment to attracting private investment and expanding its funding base beyond government contributions. While these steps may not attract global attention, they signify the NDB's evolving role as a reliable source of development finance for the Global South.