Russia
Source: en.interaffairs.ru

The Russian leader thanked Kazakh President Kassym-Jomart Tokayev for the invitation to the republic.

Cooperation between Russia and Kazakhstan in various international associations serves as an example of constructive interaction on the international scene, Russian President Vladimir Putin said during negotiations in Kazakhstan involving an expanded group of delegation members.

"Our joint work in the EAEU, the Collective Security Treaty Organization, the CIS, the Shanghai Cooperation Organization, BRICS, the UN and the Caspian 'Five Group' in the Russia-Central Asia format serves as an example of constructive interaction in international affairs," the head of state pointed out.

The Russian leader also thanked Kazakh President Kassym-Jomart Tokayev for the invitation to the republic. "I want to thank you for the invitation. I have no doubts that our work will be very useful from both sides. Thank you very much."

Putin also highly praised the work carried out by the Kazakh partners to prepare the upcoming meeting of the Supreme Eurasian Economic Council, which "will adopt important decisions on further deepening integration processes."

Russia and Kazakhstan work actively in all the directions, the Russian leader said.

Reuters: Russia and Kazakhstan will sign nuclear power deal during Putin trip, Kremlin says
Russian President Vladimir Putin will oversee the signing of a deal outlining parameters for the construction of a nuclear power plant in Kazakhstan when he ​visits the country this week, the Kremlin said on Tuesday, writes Reuters.

Kazakhstan, an ​oil- and gas-rich nation of 20.5 million people, has not ⁠had any nuclear power generation capacity since 1999, when the BN-350 ​reactor on the shores of the Caspian Sea was decommissioned. The country ​voted in a referendum in 2024 in favour of constructing new plants and plans to have 2.4 gigawatts of nuclear capacity by 2035.

Putin will also discuss an increase ​in transhipment of Russian oil to China via Kazakhstan, Kremlin aide Yury ​Ushakov told reporters.

Key agreements to be signed during Putin visit

Last year, Russia agreed to ‌raise ⁠its oil exports to China via Kazakhstan through the Atasu-Alashankou pipeline by 2.5 million tons per year to 12.5 million metric tons. However, the increase has not yet materialised, according to industry sources.

Kazakhstan is one of ​the world's biggest ​uranium producers but ⁠currently relies mostly on coal for its electricity, supplemented by some hydroelectricity and a growing renewable energy sector. ​China National Nuclear Corporation (CNNC) also has plans to build ​a nuclear ⁠plant there.

"Key agreements will be signed during (Putin's) visit on the main parameters for building a nuclear power plant and on financing the project through a ⁠Russian ​state export loan," Ushakov said.

Kazakhstan has said ​Russia would provide 85% of the financing for the plant, which is expected to be commissioned ​in 2035-2036.

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Russia
Source: russiancouncil.ru

In the context of the current conflict in the Middle East, Russia finds itself in a structurally ambivalent position. Moscow cannot be clearly characterized as either benefiting from or losing as a result of the ongoing war. The situation is unfolding along multiple trajectories simultaneously—across each of them, the balance of gains and costs varies significantly.

Economic Dimensions of the Conflict

Among the advantages often cited for Russia in connection with the Middle Eastern conflict is the rise in oil prices. At its peak, Brent crude exceeded $118 per barrel. In the short term, rising oil prices typically increase oil revenues in the state budget, part of which, under favorable market conditions, can be directed toward replenishing reserves or financing expenditures.

In March, Russia’s revenues from oil and petroleum product exports nearly doubled compared to February, reaching $19 billion.

The United States has partially eased sanctions pressure on Russian oil through a series of general licenses issued by the U.S. Treasury’s Office of Foreign Assets Control (OFAC), allowing the continuation of certain transactions involving Russian crude and petroleum products. These measures were primarily aimed at stabilizing global energy markets amid heightened tensions around Iran. In this sense, the situation creates conditions in which the conflict indirectly generates more favorable circumstances for Russia in the energy market.

However, when shifting to the medium- and long-term perspective, a number of additional challenges emerge.

Alongside rising oil prices, volatility in the global energy market is increasing, making long-term planning less predictable.

At the same time, the partial easing of certain U.S. restrictions, aimed at stabilizing the market in the context of the conflict with Iran, is situational in nature and does not indicate a structural change in the sanctions regime.

Thus, the economic advantages are largely short-term in character.

The conflict in the region increases overall business risks both in the countries of the Gulf and in Iran, as well as in the Middle East more broadly. This directly affects the willingness to participate in long-term projects. Freight costs are rising significantly, and in some cases insurance companies refuse to assume risks associated with potential escalation. OPEC+ has traditionally provided a degree of predictability in the oil market, which is particularly important for Russia. At the same time, emerging internal divergences within the framework, including the recent decision by the United Arab Emirates to withdraw from OPEC+, point to longer-term structural challenges that may affect the sustainability of this mechanism, independently of the current conflict dynamics.

This is especially important for Russia given its economic presence in the region. As a result, even with trade flows preserved, a slowdown effect emerges: declining investment activity, rising logistics costs, increasing transaction costs, and so forth. All of this creates long-term pressure on Russia’s economic cooperation with regional states.

Regional Structure of Interests

Russia has traditionally sought to pursue a diversified approach to the Middle East, maintaining working relations with a broad range of actors, including Arab states, Iran, Turkey, and Israel. However, in the context of the current conflict, this balancing posture has come under increasing strain.

Arab countries, including the Gulf monarchies, rank among Russia’s key priorities in the Middle East. This is reflected, among other things, in the high level of political engagement. In recent years, numerous high-level meetings have taken place with the leaders of Arab monarchies, including Saudi Arabia, Qatar, Bahrain, Oman, and particularly frequently the United Arab Emirates.

Beyond bilateral formats, multilateral mechanisms are also important. In particular, there exists the “Russia–Gulf Cooperation Council” format, within which ministerial meetings are held, allowing the parties to coordinate positions on key political and economic issues. There is also important interaction within BRICS, in which the UAE participates. Among Gulf states, Bahrain, Kuwait, Qatar, Saudi Arabia, and the UAE are partners of the Shanghai Cooperation Organization (SCO). Egypt, although located in another subregion, is part of the BRICS framework and also a partner of the SCO.
Economic ties with the Arab world are particularly significant and visible.

For example, in terms of trade and economic cooperation, Russia’s trade turnover with the UAE exceeded $12 billion in 2025, making the UAE the leading Arab country in terms of trade with Russia and the second largest partner in the Middle East after Turkey. Trade is only one element of a much broader system of interaction. A substantial role is played by coordination in the oil market within the framework of OPEC+, which is of strategic importance for Russia. Media reports have also pointed to interactions related to the so-called “shadow fleet” and parallel imports.

Investment cooperation occupies a significant place as well. There is active collaboration between the Russian Direct Investment Fund and its partners in Saudi Arabia, while in 2025 Russia and Qatar signed an agreement to establish a new investment platform. Cooperation also extends to other countries in the region.

At the same time, in the military-political sphere, cooperation with Arab states remains more limited. Although Russia conducts certain joint activities (for example, exercises with Egypt) the scale and depth of this interaction are significantly less developed than in the Russia–Iran track. This is largely due to sanctions-related risks that constrain Arab states from deepening military-technical cooperation with Moscow.

The Iranian Dimension

Against this background, relations with Iran take on a different character. Trade turnover here is more modest. In 2025, it amounted to over $4.8 billion. This represents an increase, but still relatively limited. A number of key projects face constraints. For example, the International North–South Transport Corridor has yet to be fully implemented due to engineering limitations, including the inability to complete a relatively small but critically important railway section, namely Rasht–Astara. Amid escalating tensions, the prospects for this project are becoming less clear.

However, despite the limitations in economic interaction, Iran remains an extremely important partner for Russia in the military-political sphere.

This primarily concerns military-technical cooperation. According to media reports, Iran supplied Russia with drones prior to the conflict in Ukraine. Russia, according to sources, has supplied combat aircraft to Iran. Agreements have reportedly also been reached on the transfer shoulder-fired missiles from Russia to Iran. In addition, Russia and Iran conduct joint military exercises, including in the Caspian Sea, as well as naval maneuvers involving China.

Iran is integrated into the same multilateral structures as Russia, being a member of both BRICS and the SCO.

Anti-U.S, sentiments, which characterize part of the Iranian political elite to a greater extent than in the Arab monarchies, is perceived in Moscow as a potential basis for coalition-building in opposition to the United States.

Thus, both Iran and the Arab states, including the Gulf monarchies, are priorities for Moscow. While Arab countries are particularly important from an economic perspective, Iran holds significance for Russia in terms of security cooperation. Although Russia has conducted exercises with countries such as Egypt, the level of security cooperation with Iran is considerably higher.

At a more informal level, particularly in some regional media, Iran is sometimes portrayed as a de facto ally of Russia, occasionally with comparisons drawn to the U.S.–Israeli relationship. However, the actual structure of relations is fundamentally different. By comparison, the U.S.–Israeli alliance includes direct security guarantees and systemic military support. Russia–Iran interaction is far more pragmatic in nature.

Military cooperation in this case is based not on gratuitous assistance, but rather on arms trade and technological cooperation, without mutual defense obligations. In this sense, it is not an alliance in the classical understanding, but rather a strategic partnership encompassing both political and economic dimensions. In January 2025, Russia and Iran signed a Comprehensive Strategic Partnership Treaty, formalizing the close ties between Moscow and Tehran and, as expected, potentially serving as a driver for further development of bilateral relations.

A comparison with the strategic partnership agreement between Russia and Democratic People's Republic of Korea (DPRK) is illustrative in this context. Unlike the agreement with Iran, it contains explicit provisions on mutual military obligations, which, in particular, served as a basis for the deployment of DPRK troops to the Kursk region in the context of the conflict with Ukraine.
No such provisions exist in the Russian–Iranian agreement. This means that Russia has neither legal nor political obligations to participate in the conflict on Iran’s side.

The Practice of Balancing

At the same time, Russia’s regional strategy is inevitably constrained not only by the need to balance between Iran and the Arab monarchies, but also by a number of other critically important vectors, above all, relations with Israel and the United States.

Relations with Israel, despite their complexity, remain constructive. They include a certain level of economic interaction, but equally important is the continuous monitoring of Israel’s position, including in the context of the conflict in Ukraine. Moscow appears to take into account that Israel has so far avoided crossing certain “red lines” in terms of military cooperation with Ukraine. An additional factor is the dense network of societal ties, given the presence of a sizable Russian-speaking community in Israel.

In parallel, there exists a Russian–U.S. track that also shapes Moscow’s behavior. Russia has maintained a negotiation process with the United States and, to some extent, counts on the possibility of Washington’s involvement in a settlement of the conflict in Ukraine on terms acceptable to Moscow. Within this logic, a sharp deterioration in relations with the United States due to the Iranian crisis would be undesirable for Russia.

The current conflict acts as a catalyst, intensifying all existing contradictions. In this situation, Russia is attempting to maneuver and avoid becoming a direct party to the conflict.

Under these conditions, Russia’s relations with Arab states and the Gulf require careful calibration. Moscow seeks to maintain a balance that becomes increasingly difficult to sustain during periods of crisis.

Russia cannot afford a serious rupture with either Iran, the Arab monarchies, the United States, or Israel. Rhetoric in certain cases may be quite harsh (for example, in response to U.S. and Israeli strikes on Iran), yet in practice Russia seeks to prevent escalation into a full-scale crisis.

Numerous contacts with Arab states have been recorded after the outbreak of the conflict. Russia has held telephone conversations with leaders of Arab states. In addition, Egypt’s foreign minister has paid a visit to Russia. All of this indicates a continuous process of coordination with the Arab world regarding the evolving situation. This does not imply full alignment of positions, but rather an exchange of assessments aimed at better understanding mutual interests.

Following the outbreak of the conflict, a telephone conversation took place between Russian President Vladimir Putin and U.S. President Donald Trump. During the discussion, the situation around Iran was also addressed. There are grounds to assume that possible “red lines” and acceptable frameworks of behavior may have been discussed. Although the content of the conversation has not been disclosed, subsequent developments suggest that certain signals were conveyed.

A separate dimension is Russia’s behavior within the United Nations, particularly in the Security Council. In general terms, Russia’s position includes condemning the actions of the United States and Israel as initiators of the strike on Iran. At the same time, Iranian strikes against Arab states do not receive the same level of harsh political assessment.

Russia proposed a draft resolution condemning the U.S. and Israeli attack on Iran. However, this resolution was not adopted, as the United States exercised its veto power. As a result, the actions of the initiators of the military operation were not condemned by the UN Security Council.

At the same time, Bahrain introduced a resolution condemning Iran for strikes against Arab states. In this case, Russia and China refrained from blocking the resolution and did not use their veto, allowing it to pass. This constituted an important political signal to the Gulf states. Russia does not support attacks on their territory. At the same time, Russia considers the adopted resolution to be one-sided and “does not fully reflect the root cause and overall picture of the conflict in a balanced manner.”

Thus, the initiators of the conflict were not condemned, whereas Iran’s retaliatory actions, affecting not so much the initiators as Arab states, particularly in the Gulf, received institutional condemnation through the UN mechanism. This configuration also diverges from the position of the UN Secretary-General, who condemned all parties to the conflict—the United States, Israel, and Iran alike.

A separate episode requiring attention concerns the resolution introduced by Bahrain in April regarding the necessity of reopening the Strait of Hormuz. The context of the discussion was highly sensitive. On the one hand, there were reports of a possible suspension of hostilities; on the other, there were ultimatum-like statements by Donald Trump addressed to Iran, including warnings that “a whole civilization will die.”

In this situation, Russia adopted a different position and exercised its veto power. This decision can be explained by a combination of factors.
First, Moscow likely proceeded from the assumption that the adoption of the resolution would have increased the imbalance. Under conditions where pressure on Iran was already present, the emergence of an additional condemnatory or restrictive document could have created a situation in which the state subjected to the initial strike would face further institutional pressure.

Second, the wording of the resolution itself was of significant importance. It was sufficiently broad and allowed for multiple interpretations, including with regard to the use of force to reopen the strait. In the absence of clear limitations, this potentially created legal space for expansive interpretation, up to and including the legitimization of military action. This could have opened the way for the United States to justify further escalation.

As a result, Russia blocked the resolution. Notably, a ceasefire was reached shortly thereafter, which to some extent reinforced the argument that diplomatic instruments, at least in the short term, played a stabilizing role.

Risks and Strategic Approach

Despite certain short-term gains associated with rising oil prices, the current conflict generates a complex set of risks for Russia, some of which are long-term in nature. Beyond the previously described challenge of maintaining balance and avoiding deterioration in relations with key partners, several additional risks emerge.

First, there is the risk of Iran weakening as a partner. According to some estimates, approximately 80% of Iran’s air defense systems have been destroyed, more than 90% of its fleet has been sunk, and around 90% of weapons production facilities have been attacked. This significantly reduces the country’s military potential and its ability to sustain a balance of power in the Middle East.

Second, there is a risk of internal destabilization in Iran, potentially extending to scenarios in which it could acquire characteristics of a “failed state.” In such a case, Russia would risk losing one of its key regional partners. While this scenario does not currently appear highly probable, it remains potentially dangerous, including due to the broader destabilizing effects it could generate across the region.

Finally, uncertainty remains regarding whether the current dynamics will lead to a genuine strengthening of Russia–Iran relations. On the one hand, the intensification of anti-U.S, sentiments within Iranian elites and the growing influence of the Islamic Revolutionary Guard Corps may contribute to a closer orientation toward Russia. On the other hand, criticism of Moscow may intensify within Iranian expert and political circles, particularly regarding the perceived insufficiency of support.

Under these conditions, Russia’s strategy can be characterized by a predominantly reactive, wait-and-see posture.

The essence of this approach lies in attempting to outlast the most acute phase of the conflict while minimizing direct involvement in choosing sides, yet at the same time preserving the capacity for diplomatic influence and seeking to maintain a balance of power wherever possible and where such efforts do not create additional imbalances.

One element of this policy is the attempt to act as a channel of communication between the parties. In particular, there have been reports that Russia previously facilitated the exchange of signals between Iran and Israel regarding their unwillingness to be the first to initiate hostilities. This, at a minimum, allowed for a delay in the outbreak of fighting. Such a function, if further developed, could become one of the instruments of Russia’s regional policy.

At the same time, Moscow’s support for Iran remains strictly limited and is primarily confined to the political and diplomatic level, particularly in the context of condemning U.S. and Israeli actions. Support for Iranian strikes against Arab states is excluded.

At the strategic level, Russia traditionally proceeds from the need to build a more sustainable security architecture in the region. In this context, it has previously advanced the Collective Security Concept for the Gulf, which implies the creation of confidence-building mechanisms and escalation prevention among key regional actors.

The current conflict is more likely to lead not to the abandonment of this idea, but to its revision. Attempts to adapt the concept to new realities are expected, above all, the growing level of mistrust between Iran and Arab states, as well as the intensification of external involvement.

At the same time, Russia continues to emphasize the need for a comprehensive settlement of the Iranian issue. In this approach, it diverges from the logic of the United States, which is more focused on resolving the challenges of the current phase of the conflict: de-escalation without addressing structural causes. For Moscow, the systemic level remains central, including the nuclear program and the sanctions regime, and in this regard its position partially converges with that of Iran.

Many of these issues were, to a large extent, addressed within the framework of the Joint Comprehensive Plan of Action (JCPOA), concluded in 2015, from which the United States withdrew in 2018 under the administration of Donald Trump. Following this, Iran gradually increased its level of uranium enrichment, intensifying suspicions regarding a potential pursuit of nuclear weapons. These suspicions subsequently became one of the key justifications for military strikes—both during the Twelve-Day War in June 2025, and within the current escalation.

What Does It All Mean?

Overall, Russia reacts negatively to the current crisis. It complicates the process of building relations with regional actors and forces Moscow to make difficult decisions, which it frames as efforts to restore the balance of power.

At the same time, the situation does not fundamentally alter Russia’s overall position in the Middle East. The region extends far beyond conflict and security imbalances, encompassing a wide range of economic activities, including nuclear energy projects in countries such as Egypt, Iran (Bushehr), and Turkey (Akkuyu), as well as cooperation in agriculture, food security, and other sectors.

Russia continues to maintain its presence in the Middle East, including in the security domain. For example, there are no clear indications that the current crisis has led to a fundamental shift in Russia’s position in Syria, which remains one of Moscow’s key priorities in the region. While some adjustments to Russia’s military presence are being discussed, these appear to reflect broader dynamics rather than a direct consequence of the conflict around Iran.

The current crisis provides Russia with an opportunity to position itself as a mediator and facilitator of negotiation processes, or at least as a party capable of helping actors exchange signals.

The concept of collective security proposed in 2021 has become outdated in its original form, yet the underlying idea creating confidence-building mechanisms and improving the regional security architecture, including with the participation of external actors, remains relevant. Middle East is a critically important region, and the Gulf is a critically important subregion, the stability of which has far-reaching implications.

Russia is likely to attempt to contribute to the stabilization of this region, although its efforts to maintain balance may at times be interpreted by other actors as taking sides in the conflict. In reality, however, Moscow’s objective remains the preservation of a balance of power, a task that becomes significantly more difficult under conditions of crisis.

Belarus
Source: www.sb.by

President of Belarus Aleksandr Lukashenko congratulated Ethiopian President Taye Atske Selassie, Prime Minister Abiy Ahmed, and the citizens of Ethiopia on the Day of the Establishment of Peace and Democracy, sb.by reports, citing the President's press service

“This holiday symbolises the victory of freedom and justice achieved by the Ethiopian people in their liberated struggle, as well as the triumph of national unity. Today, your country has achieved significant results in strengthening its statehood, social harmony, and socio-economic development, and has earned well-deserved international prestige,” the message to the President of Ethiopia reads.

Aleksandr Lukashenko emphasised that Belarus considers Ethiopia a reliable partner on the African continent and highly values ​​the relationship of mutual respect and trust that has historically developed between the two countries.

The Head of State is convinced that expanding co-operation in political, trade, economic, educational, scientific, technical, cultural, and other spheres fully meets the interests of Belarusians and Ethiopians.

In his congratulatory message to the Prime Minister of Ethiopia, Aleksandr Lukashenko noted that the country's achievements in economic growth and the well-being of its citizens command sincere respect. The President expressed confidence in the importance of strengthening interstate relations and implementing previously reached agreements.

Aleksandr Lukashenko expressed Belarus' readiness for productive collaboration to intensify co-operation in agricultural mechanisation, the creation of high-tech assembly plants, security, education, and culture. The Head of State also looks forward to continued constructive interaction in global multilateral organisations, as well as within BRICS.

USA
Source: orinocotribune.com

Cuba's National Assembly of People's Power.

The president of Cuba’s National Assembly, Esteban Lazo, sent official communications to 10 international inter-parliamentary organizations to warn of the “dangerous threat of direct military aggression” by the US against the island, the legislature reported.

“In the letters sent, the head of the Cuban legislature has informed them of the recent declarations of the Revolutionary Government and the Council of State of our country, in which it has been warned that Cuba currently finds itself under the real and dangerous threat of direct military aggression by the Government of the United States,” the Cuban parliament published on its website.

The letters were addressed to the Inter-Parliamentary Union, the Parliamentary Network of the Non-Aligned Movement, the BRICS Parliamentary Forum, the Inter-Parliamentary Assembly of the Association of Southeast Asian Nations, the Pan-African Parliament, the Latin American and Caribbean Parliament (Parlatino), the Mercosur Parliament (Parlasur), the Andean Parliament (Parlandino), the Central American Parliament (Parlacen), and ParlAmericas.

Lazo warned that amid the escalation driven by the Trump administration, executive orders have been issued that will tighten “to extreme levels” the economic, commercial, and financial blockade, as well as the energy stranglehold and other unilateral coercive measures against the island.

The parliamentary president requested “the mobilization and supportive pronouncements in favor of the just and legitimate cause of the Cuban people” to prevent military action that would trigger a “humanitarian catastrophe” and destabilize Latin America as a zone of peace.

He also reiterated Cuba’s willingness to engage in dialogue with the US government on the basis of respect for the island’s sovereignty and international law.

Tensions between Washington and Havana have escalated since the beginning of this year following the US military action in Venezuela in which President Nicolás Maduro and his wife Cilia Flores were seized.

On May 20, acting US Attorney General Todd Blanche announced US criminal charges against former Cuban president Raúl Castro, 94, for an alleged conspiracy to murder US citizens in connection with the 1996 shootdown of two light aircraft belonging to the civil organization Brothers to the Rescue. In a separate statement, the US Justice Department indicated that Castro and five other officials could face the death penalty or life imprisonment if found guilty.

Lazo described the Justice Department’s charges against Castro as “infamous.”

Cuban president Miguel Díaz-Canel reacted on social media, stating that the charges against his predecessor lack legal basis and are aimed at justifying a potential US military aggression against the island.

Russia
Source: brics-plus-analytics.org

What are the possible modalities of Cuba’s participation in BRICS+?

Amid the tremendous challenges facing Cuba this year due to the intensification of the US-imposed blockade and fuel supply restrictions, there may be venues through which it could alleviate these pressures via gaining greater access to international markets across the Global South. In 2025 Cuba became a member of the BRICS partnership belt[1] and in 2020 it obtained the status of an observer with the Eurasian Economic Union – the first country with such a status outside of Eurasia. Across regional integration arrangements Cuba is also a member of CELAC – a pancontinental platform that brings together the vast majority of the economies of Latin America. These regional arrangements may become crucial gateways to connecting Cuba’s economy to the broader international community, most notably across the Global South, via the BRICS+ formation (in case BRICS do create a platform for regional integration arrangements). Below I explore this and other venues of Cuba’s greater integration into the BRICS+ circle: 

• The partnership belt of which Cuba is part of, should become an active and living part of the BRICS+ platform rather than a symbolic addendum to the BRICS core. This partnership is a major resource for the BRICS and the developing word that should not stand idle – it should devise and discuss its initiatives with the BRICS core, including in areas such as trade and investment. One possible track that Cuba could lead from within the partnership belt could be health care advances in technology, medicine, vaccines and medical treatment.
• NDB enlargement: the BRICS New Development Bank is slowly but surely expanding its ranks and Cuba needs to be part of that platform – one of the priority sectors for investment project financing could be sustainable energy and more specifically the installation of solar batteries that would reduce Cuba’s dependence on outside supplies of fuel.
• BRICS CRA enlargement: more BRICS economies, not only those pertaining to the BRICS core, but also partner economies such as Cuba, should become part of the arrangement and the facility itself should become fully operational. But apart from forming the pool of financial reserves such as the BRICS CRA, my sense is that given the volatility and shocks in the global economy, there may be a case within BRICS to form a fund for strategic reserves of key items that may be in shortage during pandemics and crises – starting from key medicines and vaccines (this is where Cuba may play a crucial role) to food and fuel supplies. Such a facility for BRICS strategic reserves should be seen as a natural progression in the organization’s capacity to deal with the ever persistent and sizeable global challenges. In fact, this would also be very much in line with international trends – ASEAN countries are actively pursuing the development of joint strategic energy reserves, including the proposed regional oil storage hub and the strengthening of the ASEAN Petroleum Security Agreement (APSA)
• The BRICS platform for regional integration arrangements: rather than further attempting to expand the BRICS core with additional country members, the focus needs to shift to a different and a more inclusive paradigm – building a platform for the regional integration arrangements of the Global South. This would allow for not only for more members of the developing world to be embraced by the BRICS+ circle, but also for the trade cooperation to be launched across BRICS+, since increasingly the trade policies of developing economies are conducted through their respective regional integration arrangements as is the case with Mercosur and the Eurasian Economic Union. This pragmatic platform could bring together the likes of the Eurasian Economic Union, Mercosur, South African Customs Union, ASEAN, etc. with a focus on advancing trade and investment cooperation. It is worth noting that the Eurasian Economic Union already has memoranda of understanding with the likes of ASEAN and Mercosur, while Mercosur has a trade agreement with the South African Customs Union. There are hence already foundations for the formation of an alliance that is based not on individual economies, but whole regional blocs of the Global South.

With respect to Cuba, the platform for regional integration arrangements could also work through CELAC – the BRICS+ platform could bring together the three pan-continental formations such as CELAC, the African Continental Free Trade Area as well as SCO+ (Shanghai Cooperation Organization) from Asia. This platform could focus on global issues and the position of the Global South in international forums. The BRICS partnership belt, including Cuba, ASEAN economies as well as Kazakhstan and Belarus could work together with the BRICS core to elaborate and advance the possible modalities of such an arrangement for the BRICS+ “integration of integrations”.

In the end, BRICS+ should aim to develop as a matter of priority the most precious resource of the developing world – its human capital. And this is precisely the area where Cuba made some of the most impressive progress despite incredible odds. It is in the areas of healthcare, science and education that Cuba not only achieved important advances, but also shared them with the rest of the global community – one of the examples being Cuba’s development and provision of the anti-Covid vaccine. And during this year’s centenary of Fidel Castro, his words that “we spend five times as much on schools than war”[2] ring ever true still for policy-makers across the globe. The Cuban legacy to humanity of prioritizing human capital development through healthcare and education is yet to be fully revealed to the international community and the BRICS+ bloc may be one of the key platforms in this undertaking.

[1] https://infobrics.org/en/post/43585
[2] https://www.news24.com/the-world-is-poorer-without-fidel-castro-20161206

Yaroslav Lissovolik, Founder, BRICS+ Analytics

Russia
Source: mid.ru

Press release on Foreign Minister Sergey Lavrov’s meeting with Special Advisor for Foreign Policy to the President of Brazil Celso Amorim

On May 26, Foreign Minister Sergey Lavrov had a meeting with Special Advisor for Foreign Policy to the President of Federative Republic of Brazil Celso Amorim, who is heading the Brazilian delegation at the First International Security Forum (Moscow Region, May 26-29).

Held as usual in an atmosphere of constructive interaction and trust, the conversation focused on the ongoing international developments, including the situation in the Middle East and the Persian Gulf, as well as the state of affairs in the Latin American region, and the Ukraine crisis. The two officials reaffirmed their shared commitment to stepping up bilateral foreign policy coordination, including within multilateral cooperation platforms, primarily BRICS, the United Nations, and the Group of Twenty.

Russia
Source: mid.ru


On May 26, Foreign Minister Sergey Lavrov chaired a meeting of the Foreign Ministry Board on the prospects of developing and expanding the role of BRICS in the context of Russia’s multipolar world formation strategy. The meeting was attended by heads of ministry departments, members of the Presidential Executive Office and competent government agencies.

The participants noted the role of BRICS as an advocate of the states of the Global South and East supporting a more just multipolar world order, including through reforms of global governance and balancing out the world economy. They specifically focused on the promotion of practical initiatives aimed at ensuring steady socioeconomic growth and financial stability in BRICS countries.

Further consolidation of BRICS in the context of its recent expansion and the establishment of the partner state category during the Russian BRICS Chairmanship in 2024 was identified as the key goal for the group. The meeting participants expressed support for the 2026 Indian Chairmanship’s commitment to ensure the succession and to maintain the cooperation dynamic across the three areas of strategic partnership: politics and security, finance and the economy, and culture and humanitarian contacts.

South Africa
Source: iol.co.za

Uzbekistan does not make the front pages very often. It is landlocked, post-Soviet, rapidly urbanising, and home to 38 million people who are largely invisible in Western media unless the subject is gas pipelines or the occasional human rights report. But something worth paying attention to happened in Tashkent last week. President Shavkat Mirziyoyev signed the law formally joining Uzbekistan to the New Development Bank, the multilateral lender founded by the BRICS nations in 2015 as an alternative to the Washington-led financial order.

The NDB has now approved 139 projects worth nearly $42 billion since its founding. It is growing, deliberately and methodically, bringing in new members from across the Global South. Colombia joined. Algeria joined. Ethiopia and Indonesia are in talks. Each membership adds capital, credibility, and reach. And each one is a small but legible signal: the architecture of development finance is no longer a Western monopoly.

For Uzbekistan, the calculation is straightforward. The country is in the middle of one of the most ambitious infrastructure builds in its history consisting of 782 industrial and infrastructure projects planned for 2026 alone, worth $52 billion in total value. Its economy grew at 7.7% in 2025 and is projected to hold around 6.7% in 2026. It needs capital, and it needs it at scale. The Asian Development Bank is present. The World Bank is present. The EBRD has invested nearly $7 billion to date, making Uzbekistan its largest recipient in the region for six consecutive years. Now the NDB will be present too. The point is not to replace any of these institutions. The point is that Uzbekistan is building the kind of diversified financing portfolio that gives a country genuine room to negotiate.

In June 2025, NDB President Dilma Rousseff visited Tashkent and a programme of priority projects worth $5 billion was agreed, covering irrigation modernisation, mining development, and infrastructure. Those are not abstract commitments. Uzbekistan's irrigation systems are ageing infrastructure inherited from the Soviet era, critical for a country where agriculture employs a significant portion of the population and water scarcity is a growing concern. The Aral Sea disaster, one of the worst environmental catastrophes of the twentieth century, happened in this region. Investment in water management here is not development jargon. It is existential.

What the NDB offers that the World Bank and the EBRD sometimes do not is speed and fewer conditions. This is a recurring theme in the Global South's engagement with BRICS financial institutions. It is not that countries do not want accountability or transparency, most serious policymakers understand the value of institutional standards. It is that the traditional conditionality frameworks attached to Western development finance have a history of arriving with political strings that borrowing governments find difficult to manage domestically. The NDB, at least in principle, operates differently. That is part of its appeal.

Uzbekistan's foreign policy under Mirziyoyev has been defined by strategic openness since he came to power in 2016. The country has normalised relations with all five Central Asian neighbours, deepened ties with China through the Belt and Road framework, maintained strong relations with Russia, and simultaneously courted European and American investment. It is neither pro-Western nor anti-Western. It is pro-Uzbekistan. In a world that keeps demanding countries pick a side, that is an increasingly sophisticated position to hold.

The NDB membership fits neatly into this posture. It does not represent a turn away from Western institutions. Uzbekistan is simultaneously in the final stages of WTO accession negotiations, a process that requires significant alignment with Western trade norms. What it represents is the construction of an institutional network broad enough that no single partner holds decisive leverage.

This is, increasingly, what development strategy looks like for the countries of the Global South that are paying attention. Not alignment, but optionality. The countries that navigate the next twenty years most successfully will likely be the ones that managed to attract Chinese infrastructure investment, maintain IMF credit access, deepen regional trade, join BRICS-adjacent institutions, and still sit across the table from European partners without any of those relationships cancelling out the others.

Uzbekistan is doing exactly this and doing it while posting some of the strongest economic growth numbers in the region. The NDB is not going to reshape the global financial system overnight, but it is growing. Its membership is expanding. Its project portfolio is real. And every country that joins it sends the same quiet message: we are building a world with more doors than the one we inherited.

China
Source: www.chinadaily.com.cn

The two-day 2026 BRICS Forum on Partnership on New Industrial Revolution opened on Wednesday in Xiamen, Fujian province, marking the launch of an international cooperation initiative on intelligent manufacturing and a new partnership city network to boost cooperation.

The new manufacturing initiative, jointly launched by the International Coalition of Intelligent Manufacturing and leading companies to drive smart transformation, builds on recent BRICS progress in co-constructing smart factories, sharing digital solutions and aligning technical standards.

Concurrently, the China-initiated "Network of Partner Cities on New Industrial Revolution" was established to enhance urban policy alignment and industrial synergy, featuring a first cohort of 10 cities across five nations.

Co-hosted by the Ministry of Industry and Information Technology and the Fujian provincial government, the forum drew representatives from over 20 countries and international organizations to focus on smart manufacturing solutions and developing-world industrial upgrades.

Delegates said artificial intelligence, the industrial internet and robotics are rapidly reshaping global supply chains and manufacturing competitiveness.

Tri Supondy, an Indonesian Ministry of Industry official, said that rapid technological advances, industrial restructuring, AI and robotics are actively reshaping global manufacturing supply chains and competitiveness, making this transformation urgent for the Global South.

Supondy said no single nation can navigate this transformation alone, and called for upgraded talent, international cooperation and technological modernization.

John Owan Enoh, Nigeria's Minister of State for Industry, said global industrial systems are being driven by AI, digital technology and green innovation, redefining the future of production processes and global value chains.

For developing economies like Nigeria, Enoh said these changes offer unique opportunities to leapfrog traditional paths and build resilient, competitive and inclusive industrial ecosystems.

Andrei Kuznetsov, Belarus Minister of Industry, said China's short product development cycles in the digital economy and smart manufacturing make it highly attractive for foreign investment and international cooperation, while significantly promoting experience-sharing among BRICS partners.

Zeng Yuqun, chairman of CATL, said that the new industrial revolution allows BRICS nations to transition from mere raw material suppliers to core participants and builders of the green value chain, leveraging their rich minerals and renewable energy.

Zeng said CATL's $6 billion investment with Indonesian firms for an integrated electric vehicle battery chain — spanning mining to recycling — is expected to create over 8,000 direct and 35,000 indirect jobs.

To turn volatile renewable energy into stable industrial power, CATL is advancing zero-carbon solutions, he said, adding that the company will officially launch the world's largest one-stop energy storage testing platform on Thursday in Xiamen.

Xiang Wenbo, chairman of Sany Group, called the BRICS bloc a primary growth engine for the group's overseas business, and its international sales topped $10 billion last year, with BRICS markets accounting for half.

Sany has built industrial parks in four BRICS markets — including Indonesia and Kazakhstan — and the group aims to leverage industrial innovation to make green energy more efficient and universally accessible, he said.

Concurrently, the forum hosted an industrial exhibition and the "Golden Egret" scholarship workshop, bringing 25 participants from 14 countries for field studies at leading companies like Alibaba and Unitree Robotics.

The Xiamen-based BRICS Part-NIR Innovation Center has finalized 138 projects over five years, exceeding 62 billion yuan ($9.1 billion) in total investment.

Fujian's 2025 trade volume with BRICS markets reached 365.5 billion yuan, accounting for nearly one-fifth of the province's total foreign trade.

Contact the writers at zhangyi1@chinadaily.com.cn

South Africa
Source: www.channelafrica.co.za

South Africa (SA) is drawing up new economic blueprints as the country seeks to expand trade and investment within the enlarged Brazil, Russia, India, China, and SA (BRICS)-Plus framework, following the conclusion of the first in a series of structured consultative dialogues by the SA Chapter of the BRICS Business Council.

The discussions in Johannesburg focused on global trade and financial systems and examined practical options for expanding South Africa’s role in BRICS-Plus, which includes Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, trade and financial architectures.

The push comes as concern grows over persistent trade deficits, a narrow export basket and whether SA is making sufficient use of BRICS membership.

Chairperson of the Trade and Investment Working Group Advocate Mtho Xulu said the focus must shift towards local industrial value addition rather than higher volumes of raw production.

Xulu said SA continues to record a trade deficit, with the country buying more than it sells. Xulu also said the sophistication of exports remains limited, with sales still dominated by primary goods such as raw minerals and primary agriculture, reducing the value SA can derive from consumption in BRICS countries and other markets.

SA’s total trade volume with BRICS partners reached $62 billion in 2025. Exports stood at $23.2 billion, while imports reached $38 billion, leaving SA with a substantial trade deficit.

Xulu said changes in global trade and finance, also shaped by geopolitics, make it necessary to identify where SA is most vulnerable and which sectors face the greatest risk. Xulu said energy costs and limited negotiating power on the global stage show that SA still has a long way to go, but added that the BRICS platform offers a strategic route to shorten that path.

To close the gap, Xulu said priority sectors must be identified to support stronger local industrialisation and reduce dependence on raw material exports. Xulu named information and communications technology, mining and agriculture as key sectors, with manufacturing providing the foundation for industrial growth, job creation and investment in production.

Xulu also said reform of payment systems remains one of the most difficult areas of negotiation, requiring coordination among finance ministers, central banks and regulators. Xulu said innovation in digital payments provides scope for harmonising fiscal and monetary policy, improving interoperability among reserve banks and supporting trade in local currencies within BRICS.

The consultations will now move to the 18th BRICS leaders summit in India in September. China will assume the BRICS Chairmanship in 2027, with SA set to host in 2028.
–SABC/ChannelAfrica–

China
Source: www.ndb.int

Welcome Remarks by H.E. Mr. Mikhail Vladimirovich Mishustin, the Chairman…
Distinguished participants, organizers and guests!

I am pleased to welcome you to Moscow for the 11th Annual Meeting of the Board of Governors of the New Development Bank.

The Bank was established by decision of the leaders of the BRICS countries. Its first Board meeting was also held in the Russian capital.

Over the past years, the Bank has become one of the pillars of the emerging financial system of the Global South.

As President of Russia Vladimir Vladimirovich Putin has emphasized, the NDB has established effective work in the field of investment and lending, becoming one of the key international financial institutions.

Today’s meeting is devoted 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 among the most important sectors of the economy. Their use helps increase labor productivity and reduce costs. The development of medicine, transport and communications makes it possible to create a safer and more comfortable living environment.

In Russia, these areas are given priority attention – an advanced scientific and applied base is being created, domestic solutions are being introduced in informatics, energy, mechanical engineering and electronics, and the latest medicines and medical equipment are being developed.

In today’s conditions, it is access to technology that determines countries’ ability to adapt to rapid changes. And those countries that invest in innovation become centers of attraction for investment.

The share of BRICS in global gross domestic product has already reached 40%, which is significantly higher than that of the G7 or the European Union. This gap is expected to continue growing against the backdrop of the ongoing restructuring of the economy and logistics routes.

As a result, the role of interstate associations acting in the interests of the Global South is increasing. These associations support technological growth at all stages – from early-stage research to bringing companies to the stock exchange.

The New Development Bank is taking confident steps in this area. Dozens of projects worth more than 40 billion dollars have been approved. This is a concrete contribution to the modernization of transport, energy and utility infrastructure.

The NDB has everything necessary to become an international “bank of innovation” – to help countries identify the areas that are key for them, select the best development tools, and create conditions under which businesses will be ready to invest at early stages and for the long term.

Russia consistently advocates the formation of a fair and sustainable financial system in which the countries of the Global South will have more opportunities. And the New Development Bank has a special role to play in this. We support efforts to further diversify its portfolio, actively create complex cooperation chains, and also increase the share of operations in the national currencies of BRICS and the association’s partners.

I am confident that your joint work and frank dialogue will contribute to strengthening cooperation between our countries and to the well-being of our citizens.

And, of course, I wish you every success in this work!

China
Source: www.ndb.int

Statement by H.E. Mr. Anton Siluanov, the Minister of Finance…

As Chair of the Board of Governors of the New Development Bank, I am pleased to welcome you to the 11th Annual Meeting of the Bank. We held the first meeting of the Board of Governors of the New Development Bank in Moscow in 2015, and today we are holding the Annual Meeting here. This year, we face an important task – to determine the trajectory of the Bank’s development for the next five years.

Over the past 15 years, the economies of developing countries have been growing faster than those of developed countries by 2.5 percentage points annually. Maintaining such dynamics requires investment in high-tech infrastructure. This concerns not only roads, ports, energy and water supply, but also the introduction of a digital component, which makes it possible to reduce costs, increase capacity and improve labor productivity.

It is advanced technologies – artificial intelligence, new materials and energy solutions – that today provide the greatest multiplier effect in the economy. At the same time, developing countries receive a greater effect from increased public spending on R&D than other countries. Let me give you the figures: every dollar spent by a developing country on science and R&D generates about 2.3 dollars of GDP growth, whereas in developed countries this figure is approximately three times lower. In turn, every dollar invested in fundamental scientific discoveries, according to our estimates, is capable of bringing up to 11 dollars of gross domestic product growth. And the involvement of private capital in science-intensive developments and fundamental discoveries is a key factor.

In the era of new technologies, innovation and the introduction of artificial intelligence, the task of BRICS is to use all available instruments for the qualitative growth of economies, as well as to create conditions under which an idea turns into technology and into modern jobs. We must consolidate resources: the financial capabilities of some participants, the research base of others and the production capacities of others.

Combining our efforts will allow us to overcome the target threshold of R&D investment of 2% of gross domestic product through the synergy of our efforts. According to the latest estimates, the potential for expanding the technological development market in the BRICS countries amounts to more than 400 billion dollars annually.

The New Development Bank should play a key role in such financing, especially in assembling high-quality projects. After all, even where there is strong science and a strong engineering school, it is not always possible to bring a technology from the laboratory to a scaled-up modern product that would be in global demand and generate sustainable export revenues.

The Bank is now faced with the task of moving to a new level in order to increase infrastructure financing, become a key expert in the technological development of our countries, and skillfully combine existing solutions to develop the technological potential of the BRICS countries through the exchange of experience and best practices.

The New Development Bank also has an important role to play in unlocking the energy potential of our countries. Nuclear power plants and small modular reactors are becoming the energy base for consumers of artificial intelligence and the capacities associated with them, primarily data centers. I welcome the Bank’s decision to begin financing nuclear projects.

The Russian Federation, as the host country, considers it important that our discussion be focused on developing practical solutions. The priorities we are discussing should be reflected in the Bank’s operations, in its project portfolio, and in the specific indicators of the Bank’s new Strategy. This directly determines how much the New Development Bank will be in demand among the countries of the Global South and what contribution it will make to the development of our economies.

China
Source: www.ndb.int

Statement by H.E. Mr. Enoch Godongwana, the Minister of Finance…
Honourable Governors,
Distinguished Delegates,
NDB President, accompanied by the VPs
Ladies and Gentlemen,
Good morning to you all!

It is a privilege to join you at the 11th Annual Meeting of the Board of Governors of the New Development Bank. I extend my sincere appreciation to the Government of the Russian Federation for hosting us and for their warm hospitality.

We convene at a time of profound global transformation. The international community is navigating a complex landscape marked by economic uncertainty and rising cost of living . Shifting geopolitical dynamics and conflicts are intensifying along with and rapid technological change.

These developments underscore the urgency of strengthening multilateral cooperation and reaffirming our shared commitment to sustainable and inclusive development.

The theme of this Eleventh Annual Meeting is both timely and well chosen. Rapid technological change is fundamentally reshaping development finance, particularly through advances in digital finance, artificial intelligence, and data systems. These developments are transforming how resources are mobilised, allocated, monitored, and evaluated, and they call for a corresponding evolution in our development finance institutions.

As a Multilateral Development Bank, the NDB has a critical role to play in supporting developing countries as they navigate this digital transition. This includes financing digital infrastructure such as broadband networks and data centres, to help reduce the digital divide and strengthen economic resilience.

In this context, the Bank should continue to leverage blended finance approaches to crowd in private capital, including through the targeted use of de-risking instruments with a strong technological dimension. Such instruments can be particularly effective in mobilising private investment into high-impact, high-risk sectors. MDBs should also continue strengthening their investments in cybersecurity and data privacy to mitigate risks related to data breaches, fraud, and cyber threats.

As we look ahead, the role of the Bank becomes even more critical. There is a need to scale up financing for resilient infrastructure, support the green transition, and harness the opportunities presented by technological innovation. At the same time, we must ensure that development finance remains accessible, affordable, and aligned with the needs of all members.

In this regard, strengthening local currency financing, embracing innovative financing instruments, and expanding membership in a manner that preserves the Bank’s mandate, are critical next steps. So too will be safeguarding the institution’s financial integrity amidst the geographical realities, and enhancing partnerships with other multilateral and regional institutions. All of this will be key priorities for the Next 5 Year General Strategy.

Equally important is the need to reinforce governance, transparency, and operational efficiency, ensuring that the Bank continues to deliver impact at scale.

In closing, I wish the New Development Bank continued success in advancing sustainable development and improving the lives of our people.

I thank you.

China
Source: www.ndb.int

Statement by H.E. Mr. Dario Durigan, the Minister of Finance…
Let me begin by thanking the New Development Bank for the invitation. I would also like to recognize President Dilma Rousseff for her leadership, and the entire NDB team for their continued commitment to strengthening the Bank and delivering for its members.

The global economy is going through a significant transformation. Geopolitical tensions, climate change, infrastructure gaps, and rapid technological change are reshaping the world and creating major challenges for emerging and developing economies.

In this context, institutions such as the NDB are not only relevant. They are essential.

Since its creation, the Bank has established itself as an important pillar of the international financial architecture for the Global South, with a strong focus on infrastructure and sustainable development.
At the same time, the challenges ahead require us to go further. Today, innovation and technology are at the center of the agenda. A development bank for the 21st century must be able to finance not only physical infrastructure, but also digital and institutional capabilities.

Brazil welcomes the Bank’s recent approval of financing for the first Brazilian Smart Hospital, which is located in São Paulo. This is an example of how innovation, digital technologies, and public infrastructure can improve the quality and efficiency of essential public services, in the benefit of the whole community.

From Brazil’s perspective, another central priority is to reinforce the Bank’s catalytic role. The scale of financing required for climate action, resilient infrastructure, technological transformation and sustainable industrial development goes far beyond what public resources alone can provide.

This is why instruments such as guarantees, blended finance, co-financing arrangements and other risk-sharing instruments can help to improve the bankability of projects, reduce perceived risks and attract private and institutional investors to sectors that are strategic for development. In this context, the implementation of the BRICS Multilateral Guarantees pilots and trade finance operations must be two priority steps ahead for NDB this year.

Other strategic priorities include strengthening local currency financing and coordination among development institutions. By expanding local currency operations and deepening cooperation among multilateral development banks, national institutions, climate funds, and country-led platforms, the NDB can help reduce vulnerabilities, improve project viability, mobilize long-term investment, and better align financing with the development priorities of its members.

For Brazil, it is also a priority that development finance becomes increasingly focused on concrete results. Beyond the volume of resources mobilized, what matters is how effectively financing contributes to productivity, inclusion, and sustainable long-term growth, always aligned with the priorities and development needs of member countries.

To conclude, the NDB was created with a clear vision: to provide responsive and development-oriented financing for its members. That vision remains highly relevant today.

Brazil remains fully committed to supporting this process and to working with all members to ensure that the NDB continues to strengthen its contribution to the sustainable development of our economies.

Thank you very much.

China
Source: www.ndb.int

Statement by H.E. Mr. Amir Khosru Mahmud Chowdhury, the Minister…
Mr. Chairman,
President of the New Development Bank,
Esteemed Governors,
Distinguished Delegates,
Excellencies,
Ladies and Gentlemen,
A very good morning to all of you.

I begin by expressing my sincere gratitude to the Government of the Russian Federation and the New Development Bank for hosting this esteemed gathering in the culturally rich, historic, and vibrant city of Moscow. Although I am unable to attend in person due to our budgetary session and other pressing commitments, I deeply appreciate the opportunity provided by the Host Country and the NDB to share our perspectives with this distinguished assembly. My heartfelt thanks and sincere gratitude to the organizer for their sincere support.

Mr. Chairman,

The theme of this year’s Annual Meeting, “Development Financing in an Era of Technology Revolution,” is both timely and critical. While technological advancements offer unparallel opportunities for development, the global community faces concurrent challenges such as climate change, geopolitical tensions, and economic volatility. In this context we must work collaboratively to discover innovative solutions to ensure prosperity and inclusivity for all.

Distinguished Delegates,

We warmly appreciate NDB’s commitment to providing USD 1 billion annually to Bangladesh. We are pleased to report that we have already submitted proposals for eight projects totaling USD 1.533 billion, with one project loan agreement already signed. This achievement reflects the strong leadership and dedicated work of the NDB President and Management. We also remain fully committed to deepening and widening our partnership by preparing a robust pipeline.

Esteemed Governors,

Following a successful democratic transition, the newly elected Government of Bangladesh has placed investment-led development, focusing on restoring growth momentum emphasizing on job creation, FDI attraction, total digitalization and inclusive infrastructural development of the country. This direction is aligned with its unwavering commitment to people-centric democratic development and national progress. As a rapidly growing economy, we look forward to NDB as a substantial financial partner, particularly in our journey of becoming a trillion dollar economy under the prudent leadership of our Hon’ble Prime Minister H.E. Mr. Tarique Rahman.

Mr. Chairman,

As you are aware that most of the economies continue confronting challenges from post-pandemic shocks, global crisis, and pressures on fuel and finance, the New Development Bank may act as a crucial institution for bridging financing gaps and we would like to urge the Bank to consider introducing an innovative window to facilitate emergency financing needs of its members.
Distinguished Governors,

We hold high expectations on NDB as a transformative global partner, supporting member countries in overcoming global challenges through sustainable efforts. In this context, may I request NDB to consider an emergency support initiative for its member countries, like the World Bank, ADB, and AIIB, to maintain energy and food security and sustainable development efforts of the member countries.

Excellencies,

We are fully committed to working together with the Bank and its fellow member states to overcome the global challenges. I believe any such intervention from NDB will be instrumental in ensuring continuous development activities for long-term growth and sustainability, and in ushering in a new era of inclusive and sustainable development — one that serves future generations across the globe.
With these thoughts, I conclude my remarks.

Thank you all.

China
Source: www.ndb.int

Statement by H.E. Ms. Anuradha Thakur, the Secretary, Department of…
Hon’ble Fellow Governors,
Hon’ble President of the New Development Bank,
Excellencies, ladies and gentlemen,

I would like to thank the Russian Federation for hosting the 11th Annual Meeting of the Board of Governors of the New Development Bank here in Moscow, and for the excellent arrangements.

Economic history has long been shaped by periods of deep structural change. What distinguishes the present moment is the convergence of multiple transitions—shifts in global economic balances, rapid technological change, demographic changes, climate pressures, and evolving patterns of interdependence—unfolding simultaneously and at an accelerated pace. Together, these forces are redefining production systems, public service delivery, financial markets, and labour dynamics across the world.

For emerging markets and developing countries, this phase of transformation presents both opportunity and risk. It can accelerate productivity, inclusion, and sustainability. At the same time, unequal access to resources, fragmented markets, and limited domestic capacities can widen development gaps and deepen vulnerabilities. The challenge before us is to ensure that these shifts become drivers of inclusive, resilient, and sovereign development, rather than a source of new divides.

India’s development experience highlights the importance of treating core drivers of growth as public goods. Through large-scale investments in digital public infrastructure, financial inclusion, renewable energy, and innovation ecosystems, we have made a consistent effort to expand access, deliver services at scale, and empower citizens and enterprises. We have complemented these initiatives with sustained investments in physical infrastructure, manufacturing capacity, and human capital—to ensure that ongoing transformations translate into jobs, productivity, and long-term growth.

The New Development Bank occupies a unique position in this regard. As a multilateral institution created by and for emerging markets and developing countries, NDB is well placed to support country‑driven development pathways, strengthen South–South cooperation, and mobilize resources for sustainable infrastructure and technological transformation. Over the past decade, NDB has built a solid foundation of developmental impact. Going forward, its continued strategic evolution—through new financing approaches, partnerships, and operational agility—will be essential.

The discussions scheduled during this Annual Meeting, including on innovation financing, artificial intelligence, healthcare, nuclear power and medicine, reflect the breadth of challenges and opportunities before us. They also underline the need for coordinated action, knowledge sharing, and collective learning among our countries.

India’s journey reflects a simple but powerful conviction: development must be inclusive, resilient, and firmly anchored in national priorities. Our rapid expansion of renewable energy, including one of the world’s largest solar programmes, and emerging efforts in green hydrogen, demonstrate our commitment to sustainable growth. At the same time, programmes like Make in India and investments in logistics and infrastructure are strengthening domestic manufacturing and supply chains.

We remain committed to deepening our engagement with the New Development Bank and working closely with fellow members to ensure that development finance effectively delivers outcomes that create real gains for our people.

I wish the Annual Meeting every success and look forward to productive discussions.

China
Source: www.ndb.int


Statement by H.E. Dr. Samar Al-Adal, the Deputy Minister of…
Madame President Dilma Rousseff,
Excellencies,
Distinguished Governors and Esteemed Colleagues,

It is an honor to stand before you today at the eleventh Annual Meeting of the New Development Bank in the beautiful city of Moscow. I would like to extend my gratitude to our hosts, the Russian Federation, for their warm hospitality.

Our meeting today is a testament to our collective commitment to sustainable development, a shared mission that has become ever more crucial in these challenging times. The theme of this year’s meeting, “Development Financing in an Era of Technological Revolution” resonates deeply with the India’s presidency for BRICS, whose main theme is “Building for Resilience, Innovation, Cooperation and Sustainability”.

This reflects the strong alignment among Global South countries’ priorities toward fostering a more inclusive, resilient, and sustainable international development architecture that is capable of responding to evolving global challenges and aspirations in a world that is grappling with unprecedented challenges ranging from the lingering effects of the COVID-19 pandemic, climate change and geopolitical tensions affecting peace and security particularly in the Middle East.
Dear Colleagues,

We are witnessing a world undergoing rapid and profound change. Global supply chains are being reconfigured, while climate change continues to pose unprecedented challenges to our societies and economies.

Amid this evolving landscape, a unique opportunity has emerged to reposition our economies within global value chains through the adoption of emerging technologies and innovative financial instruments, with the objective of strengthening economic resilience and enhancing long-term sustainability.

Innovation plays a key role in promoting sustainable economic development, by enhancing productivity, creating new markets, and fostering competitive advantages, ultimately leading to economic growth and improved living standards.

Hence, digital technologies—especially artificial intelligence—are no longer peripheral tools but central enablers in addressing complex, interdependent developmental challenges.

Against this backdrop, the Egyptian government has exerted relentless efforts towards building “Digital Egypt” by fostering a knowledge-based economy, enhancing government services, and investing in tech infrastructure and human capital.

Egypt has also launched its Second National AI Strategy (2025–2030) which is built on integrating investments in digital infrastructure with the development of human capital aligned with future labor market needs. The government aims to train approximately 30,000 AI specialists by 2030, enhancing national capabilities in developing and localizing advanced technologies.

These efforts have yielded tangible results, where the ICT sector in Egypt has been the highest-growing sector in Egypt over the past 8 years, maintaining a sustained annual growth rate of 14–16%.

Moreover, Egypt has made notable progress in the 2025 Government AI Readiness Index, advancing 14 positions globally to rank 51st out of 195 countries, compared to 65th in 2024. Egypt also rose to rank 3rd among Arab countries in 2025, up from 7th in 2024, while leading the African continent in the same index.

These achievements contribute to strengthening investor confidence and reinforcing Egypt’s ability to leverage technology for tangible economic and societal impact.

Esteemed Partners,

In recent years, Development Finance Institutions have increasingly tapped into the opportunities presented by the digitalization of the financial sector to promote inclusive growth, enhance financial accessibility, improve efficiency, and foster innovation-driven development.

To effectively drive development and foster innovation in the Global South, multilateral banks specially the New Development bank can promote their engagement by implementing targeted strategies that address local challenges and promote sustainable growth.

Exploring innovative financing mechanisms, including blended finance and public-private partnerships, is essential to support emerging economies in advancing their digitalization efforts.

Establishing bank-led innovative incubators focused on specific community needs will enable the creation of tailored solutions that resonate with unique contexts, supported by the funding and resources provided by these banks.

Esteemed colleagues,

I reaffirm Egypt’s unwavering commitment to support the New Development Bank in achieving our shared mission of fostering sustainable development across the Global South particularly in the field of digital transformation. The challenges we face are complex, but through cooperation, innovation, and determination, we can build a resilient future for all.

I look forward to our continued collaboration and to the tangible outcomes that will undoubtedly emerge from this year’s meeting. Together, we can ensure that the NDB as a bank established by and for emerging economies remains at the forefront of global efforts to create a more equitable, sustainable, and prosperous world.

Thank you.

China
Source: www.ndb.int

Statement by H.E. Mr. Ali Abdullah Sharafi, the Assistant Undersecretary…
Your Excellency Minister Siluanov, Madam President, Excellencies, distinguished guests,
The United Arab Emirates extends its sincere appreciation to the Russian Federation for hosting us in Moscow for the 11^th Annual Meetings of the New Development Bank. We also convey our gratitude to the New Development Bank for the excellent arrangements and warm hospitality.

I would like to begin by reaffirming the UAE’s steadfast commitment to advancing global economic cooperation and promoting multilateralism and constructive dialogue to address global growth and development challenges. We remain committed to promoting long-term economic growth and sustainable development, supporting platforms with active representation of emerging market and developing economies (EMDEs), and supporting an open, rules-based global trading system to advance our shared prosperity.

We fully support this year’s theme on financing development in an era of rapidly advancing technological trends. NDB’s role, as a global development institution created by EMDEs for EMDEs, remains highly relevant to ensure the benefits of new innovations are equitably distributed globally.

Emerging technologies are rapidly evolving and require a nuanced understanding. For example, AI offers a lot of potential to support sustainability, efficiency, resilience, and innovation in our economies, and NDB can support member countries in promotion of more resource-efficient and context-appropriate AI deployment models.

In particular, we believe it is critical for EMDEs to have enabling policies to attract and deploy these technologies, infrastructure advancement especially in telecommunications, and manpower capabilities to develop a capable workforce that can maintain and further advance these technologies. Given the varied levels of technological development and regulatory frameworks among NDB members, NDB can provide a platform, research collaboration, and best-practice, policy and governance dialogue.

In the UAE, we believe technology to be one of the foundations of a competitive, diversified economy. The UAE’s Strategy for Artificial Intelligence, launched in 2017, spans multiple sectors and focuses on responsible, large-scale adoption of AI to transform government services and drive innovation. It is supported by the UAE Council for AI that oversees AI integration in government departments and the education sector.

This year, we announced a plan to transform 50% of our government sectors and services within two years to agentic AI models capable of independently executing tasks, managing processes and supporting decision-making. The UAE has also created a new role- the ‘Chief Executive Officer for AI’ – in ministries and federal entities. To build capacity for our youth to manage digital assets and AI-driven fiscal planning, the Ministry of Finance has launched a Leaders of Finance program, as part of a broader national strategy to develop talent for the digital economy. Later this year, the UAE will also be co-hosting the 2026 UN Water Conference with Senegal, where technology and innovative solutions for water finance will be a key theme, and I invite Your Excellencies to the UAE to participate in the Conference.

Let me conclude by once again expressing our sincere appreciation to the Russian Federation and the New Development Bank for hosting these meetings. The UAE remains committed to supporting the NDB in advancing the role of the Global South as a leading force in shaping and harnessing the opportunities of the new technological revolution.

Thank you.

China
Source: www.ndb.int

Statement by H.E. Ms. Junhong Chang, the Assistant Minister of…
Honorable Madam President Rousseff,
Honorable Governors,
Ladies and Gentlemen,
Good morning.

First of all, I would like to extend warm congratulations on the convening of the Eleventh Annual Meeting of the New Development Bank (NDB). I also wish to express sincere gratitude to the Government of the Russian Federation and the NDB for their hospitalities and thoughtful arrangements.

Chinese President Xi Jinping and leaders of other BRICS countries attach great importance to the establishment, operation and development of the NDB, and have provided important guidance on many occasions. In April 2025, President Xi Jinping paid a visit to the NDB headquarters, fully affirming the NDB’s achievements over the past decade and expressing expectations for the NDB to embark on its second “Golden Decade” of high-quality development. We are pleased to see that under the leadership of Madam President Rousseff, the NDB’s international influence and capacity to promote development have continued to grow.

At present, global economic recovery remains sluggish, the international situation is complex and volatile, and the world has entered a new period of turbulence and transformation with rising uncertainty and instability. Against this backdrop, the NDB should uphold the BRICS Spirit of openness, inclusiveness and win-win cooperation, and strive to become a strong and most reliable development partner for BRICS countries and the Global South on their paths to modernization. In this regard, I would like to put forward three proposals:

First, set strategic direction and development priorities. Formulating a new General Strategy is of great significance for the NDB to stay on the right track in the next five years. The new round of technological revolution has created new demand for global development financing. The NDB should continue to improve its business model to better serve the Global South, with an aim of becoming a bigger, better and more efficient MDB for the 21st century.

Second, play a greater role in global governance. President Xi Jinping has put forward the Global Governance Initiative, and the NDB is an important platform for the Global South to participate in global economic governance. The Bank should advance its membership expansion, and help increase voice and representation of the Global South in the international financial architecture.

Third, build broader partnerships. China supports the NDB in strengthening co-financing and knowledge cooperation with other multilateral and bilateral development financial institutions, as well as private sector investors. China also looks forward to greater strategic alignment between NDB and other global initiatives such as the Belt and Road Initiative and the Global Development Initiative, contributing to the realization of the UN 2030 Agenda for Sustainable Development and help more countries of the Global South achieve modernization.

As the host country of the NDB headquarters and a major shareholder, China will work with all parties to support the NDB in pursuing steady and sustainable development, embarking on its second “Golden Decade” of high-quality development.

Finally, I wish this Annual Meeting a complete success.

Thank you.

China
Source: www.ndb.int

Statement by H.E. Mr. Djouama Toufik, the Ambassador Extraordinary and…
Excellency Madame the President of the New Development Bank,
Excellency Chairman,
Honorable Governors,
Excellencies,
Ladies and Gentlemen,

It is a great honor for me to take part in this gathering on the occasion of the 11th Annual Meeting of the New Development Bank.

First of all, allow me, on behalf of the People’s Democratic Republic of Algeria and on behalf of the Minister of Finance, to express our sincere thanks and appreciation to the Government of the Russian Federation for the hospitality and the excellent organization of this Annual Meeting.

Allow me also to express our appreciation to the leadership and staff of the NDB for the excellent preparation of this meeting and their continued efforts in promoting and developing our bank.
Excellencies, Ladies and gentlemen,

Today, the world is experiencing profound technological transformation that is reshaping economies, public services and financial systems. Digital innovation and artificial intelligence, are becoming essential tools for growth, competitiveness and development.

In this context, the theme of this year’s Meetings is both important and relevant, especially as the NDB is preparing its new strategy for 2027-2031. The importance given to digital transformation and the integration of artificial intelligence among the Bank’s strategic priorities, reflect the commitment of its members to supporting modern, efficient and sustainable development.

We are confident that these priorities will contribute meaningfully to the modernization of the economies of member countries, the promotion of new development models, reducing the digital gap, strengthening our digital sovereignty.

At a time when technological progress is accelerating rapidly and reshaping our world, it is imperative to ensure equitable digital access for all countries. Innovation and artificial intelligence should serve as instruments for sustainable development, economic resilience, and shared prosperity.
Excellencies, Ladies and gentlemen,

Algeria has joined the NDB in May 2025, with strong confidence in the Bank’s mission and its future role. Although our membership remains recent and cooperation projects haven’t yet been initiated, Algeria considers the Bank as a strategic partner of high importance.

As an African country, Algeria believes that the NDB, through its development-oriented approach, will play an important role in addressing the challenges facing emerging and developing economies.

I would like to reaffirm my country’s commitment to supporting the NDB in the achievement of our shared objectives of fostering sustainable development across the Global South. While the challenges ahead are complex and diverse, ze firmly believe that a bright future can be built through cooperation, innovation, and collective determination.

In conclusion, I would like once again to express our thanks to the Russian authorities, to the leadership and staff of the Bank, and to all those who contributed to the successful organization of this important meeting.

I wish our deliberation every success and look forward to fruitful exchanges.

Thank you for your attention.