The New Development Bank is now funding more of its projects in local currencies. Headquartered in Shanghai, the NDB was established by the original 5 BRICS member states. CGTN's Radhika Bajaj sat down with the vice president and chief operating officer of the bank, Vladimir Kazbekov, to discuss the change in funding strategy. | CGTN Africa

The New Development Bank (NDB), established by BRICS countries, is rapidly becoming a major player in global finance, offering a fairer alternative for developing nations seeking infrastructure and sustainable development funding. With new members like Egypt, Algeria and the UAE joining, the NDB has already financed projects worth $32.8 billion, including thousands of kilometers of roads and water infrastructure. As more countries from the Global South turn to the NDB, its influence in reshaping