New Development Bank Hailed as Key BRICS Achievement by Brazilian Expert
According to the International Desk of Webangah News Agency, Lucas Henrique Rocha, coordinator of the BRICS Study Group at the University of São Paulo, Brazil, stated in an exclusive interview with TV BRICS that the bloc has established various mechanisms for financial and digital cooperation throughout its two decades of activity.
Rocha identified the establishment of the New Development Bank in 2014, the creation of the BRICS Contingent Reserve Arrangement in 2015, and the launch of the BRICS Pay initiative in 2018 as some of the group’s most important achievements.
He also pointed to the expansion of BRICS in 2024 and 2025, underscoring Brazil’s role in the formation and development of the group. As a founding member, Rocha noted that Brazil has supported the NDB and played a part in hosting BRICS summits.
“Brazil has played a very important role in assisting BRICS. This country, alongside China, Russia, and India, was one of the initial and founding members of this group,” he added.
The coordinator of the BRICS Study Group at the University of São Paulo also cited digital payment infrastructure as an area where Brazil is currently participating in BRICS discussions. “Today, Brazil, with its technological advancements and achievements in its digital payment system, has significant participation in the discussion of digital payment infrastructure,” Rocha said.
Ahead of the 18th BRICS summit in New Delhi, he expressed hope that the meeting would provide a platform for exchanging ideas and forging new collaborations among member states in areas such as AI safety mechanisms, green financing, and digital payment infrastructure. “I expect this summit to be an excellent opportunity for people from different countries to come together, exchange new ideas, and create projects and partnerships to solve the most important issues of the current era,” he continued.
Reflecting on BRICS’s 20th anniversary, he expressed optimism about the group’s future. Rocha concluded by stating, “I am very happy to see BRICS reach a stage of maturity and hope that this group will have a bright future in the next 20 years as well.”
