Published on: 2026-05-15
Source: Government of the Russian Federation –
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Video message from Mikhail Mishustin to the participants, organizers, and guests of the 11th annual meeting of the Board of Governors of the New Development Bank.
11 hours ago
M. Mishustin:Dear participants, organizers, and guests!
I am pleased to welcome you to Moscow for the eleventh annual meeting of the Governing Council of the New Development Bank.
The bank was created by the decision of the BRICS country leaders. And the first meeting of the council also took place in the Russian capital.
Over the past years, the bank has become one of the pillars of the forming financial system of the global South.
As emphasized by the President of Russia Vladimir Vladimirovich Putin, the NBL has established effective work in the field of investment and lending, entering the ranks of key international financial organizations.
Today’s meeting is dedicated to discussing the challenges and opportunities associated with the technological revolution that has been gaining momentum in recent years. Artificial intelligence and digital platforms have become the most important sectors of the economy. Thanks to their use, labor productivity is growing and costs are decreasing. The development of medicine, transport, and communications allows making the living environment safer and more comfortable.
In Russia, priority attention is given to these areas – an advanced scientific and applied base is being created, domestic solutions are being implemented in informatics, energy, mechanical engineering, electronics, the latest medicines and medical technology are being developed.
In modern conditions, it is precisely access to technologies that determines the ability of countries to adapt to rapid changes. And those among them who invest in innovation become a focal point for attracting investment.
The share of BRICS in the global gross domestic product has already reached 40%, which is significantly higher than that of the “G7” or the European Union. This gap, it is expected, will continue to grow amid the ongoing restructuring of economies and logistical routes.
As a result, the role of interstate associations acting in the interest of the global South is increasing. They support technological growth at all stages – from early research to the listing of companies on the stock exchange.
The new development bank is taking confident steps here. Dozens of projects amounting to over 40 billion dollars have been approved. This is a concrete contribution to the modernization of transport, energy, and communal infrastructure.
The NDB needs everything necessary to become an international “bank of innovations” – to help countries determine key directions for them, select the best development tools, create conditions under which business will be willing to invest in the early stages and for the long term.
Russia consistently advocates for the formation of a fair and sustainable financial system in which countries of the global South gain more opportunities. The New Development Bank plays a special role in this. We support efforts to further diversify its portfolio, actively create complex cooperative chains, as well as increase the share of operations in the national currencies of the BRICS and the union’s partners.
I am confident that your joint work, an open dialogue, will contribute to strengthening the cooperation of our countries and the welfare of the citizens.
And of course, I wish you success in this!
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