BRICS New Development Bank expands local currency lending and green finance

Dilma Rousseff, President of the New Development Bank (NDB), reaffirmed that approximately 25 per cent of the bank’s lending portfolio is already denominated in local currencies of the BRICS countries, a figure set to rise to 30 per cent in 2026. This is reported by the official website of Brazil's government.

She stressed that using local currency lending reduces foreign‑exchange risk and better supports long‑term sustainable infrastructure and energy projects for emerging economies.

Rousseff also reported that 40 per cent of the NDB’s current finance is devoted entirely to sustainable projects, in partnership with national development institutions.

During her remarks, Rousseff highlighted the importance of placing environmental sustainability at the heart of economic strategies – a priority she described as “even more urgent for the Global South.”

The NDB’s green finance strategy aligns with Brazil’s national efforts. It was announced that the country is preparing to establish a national carbon-credit certification body. This move aims to position Brazil – and the wider BRICS group – as key players in the global carbon market. According to the source, public banks must take the lead in financing the climate transition and sustainable innovation.

Furthermore, Rousseff highlighted the strategic importance of deeper cooperation among BRICS countries, noting that development financing in local currencies offers countries greater autonomy.

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