Chinese President Xi Jinping reinforced China's commitment to multilateral financial cooperation during a visit to the New Development Bank (NDB) headquarters in Shanghai on Tuesday. The visit, which included talks with NDB President Dilma Rousseff, underscored Beijing's role as a key driver of infrastructure and sustainable development projects across emerging economies.
'As the bank's host country, China will always support the operations and development of the New Development Bank,' President Xi stated, emphasizing the institution's growing influence in financing green energy and transportation initiatives. Founded by BRICS nations in 2015, the Shanghai-based NDB has approved over $32 billion in projects globally since its inception.
Analysts note the timing aligns with China's push to strengthen south-south cooperation mechanisms. The NDB's expansion – including new member applications from Saudi Arabia and Bangladesh – positions it as a viable alternative to traditional Western-dominated financial institutions.
