The BRICS-led New Development Bank (NDB) firmly rejects “unilateral approaches” and coercive economic policies, said NDB President Dilma Rousseff at the CELAC-China Forum in Beijing, warning that such tactics threaten global stability and development.
“Unilateral approaches are a sign of regression that replaces the rule of law and cooperation with the imposition of brute force,” Rousseff said. She cautioned that tariff wars and economic coercion are “extremely dangerous” and called for renewed commitment to multilateralism, mutual respect, and the rejection of protectionism.
The NDB was established in 2015 by the BRICS nations—Brazil, Russia, India, China, and South Africa—as an alternative to Western-dominated financial institutions. It aims to support infrastructure and sustainable development projects in emerging economies, with a focus on offering financing without political conditions.
Rousseff, a former Brazilian president, stressed that the bank promotes a new model of South-South cooperation. “The NDB supports development without strings attached, respecting national sovereignty,” she said.
Rousseff’s remarks come ahead of the 17th BRICS Summit to be held in Rio de Janeiro, Brazil, on July 6-7.
The expanded BRICS group, which includes Brazil, Russia, India, China and South Africa, has new joiners Egypt, Saudi Arabia, the United Arab Emirates, Ethiopia, Indonesia and Iran.
