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The New Development Bank (NDB) that has been established by BRICS member states is prioritizing the use of local currencies to ensure the stable development of BRICS nations agree to strengthen trade and financial settlement in local currencies, study feasibility of an independent cross-border settlement and depositary 16 de sept. de 2025 Payments will be conducted in the national currencies of BRICS countries, while the New Development Bank will act as a platform for integration, conversion and Now, BRICS’ New Development Bank is reportedly already focused on adding new members and local currency development. Specifically, the bank’s CFO and Vice President had discussed the two priorities of the development bank ahead of a meeting to take The New BRICS Development Bank (NDB) is set to launch payments in local currencies to invest in the private sector of the economies of the grouping's member states The New Development Bank (NDB), established by the BRICS countries, is focusing on increasing the use of local currencies to ensure sustainable development of the

BRICS Bank Focuses on New Members and Local Currency for Sustainable Growth

The BRICS nations are forging a path towards greater economic independence and stability, with the New Development Bank (NDB) at the forefront of this movement. A key strategy involves expanding membership and prioritizing the use of local currencies in transactions and investments.

NDB Prioritizes Local Currencies

The New Development Bank (NDB), established by the BRICS countries, is focusing on increasing the use of local currencies to ensure sustainable development of the member nations. This initiative aims to reduce reliance on dominant global currencies and foster greater financial autonomy within the BRICS economic bloc. The New Development Bank (NDB) that has been established by BRICS member states is prioritizing the use of local currencies to ensure the stable development of the economies.

Expanding Membership

Now, BRICS’ New Development Bank is reportedly already focused on adding new members and local currency development. Specifically, the bank’s CFO and Vice President had discussed the two priorities of the development bank ahead of a meeting to take place. The expansion of membership is critical for strengthening the NDB's influence and capacity to fund development projects across a broader range of emerging economies.

Strengthening Trade and Financial Settlement

BRICS nations agree to strengthen trade and financial settlement in local currencies and study the feasibility of an independent cross-border settlement and depositary. This move would streamline transactions and reduce exchange rate risks, ultimately boosting trade within the BRICS sphere.

Local Currency Payments and Integration

Payments will be conducted in the national currencies of BRICS countries, while the New Development Bank will act as a platform for integration and conversion. This innovative approach will facilitate seamless financial interactions between member states and promote the use of their respective currencies.

Investing in the Private Sector

The New BRICS Development Bank (NDB) is set to launch payments in local currencies to invest in the private sector of the economies of the grouping's member states. By channeling investments into private enterprises, the NDB aims to stimulate economic growth and create opportunities within BRICS countries.

Looking Ahead

With its dual focus on expanding membership and promoting the use of local currencies, the BRICS Bank, also known as the New Development Bank (NDB), is poised to play a crucial role in shaping a more balanced and resilient global financial system. The commitment to sustainable development, coupled with innovative financial strategies, positions the NDB as a key player in the emerging world order. (16 de sept. de 2025, for reference to the potential timeline of some of these developments).

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