The New Development Bank (NDB) is a multilateral development bank established by Brazil, Russia, India, China and South Africa with the objective of financing infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, complementing the efforts of multilateral and regional financial institutions toward global growth and development.

In 2018, the New Development Bank received observer status in the UN General Assembly, establishing a firm basis for active and fruitful co-operation with the United Nations.

NDB’s Articles of Agreement specify that all members of the United Nations could be the members of the bank; however the share of the BRICS nations can never be less than 55% of voting power.