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p. 655. Building the New Development Banklocked

  • Andrew F. Cooper

Abstract

The New Development Bank (NDB)—alternatively called the BRICS Development Bank—represents the most significant institutional innovation to emerge from the BRICS summit process. ‘Building the New Development Bank’ outlines how BRICS was able to successfully establish the NDB in 2014, as well as establish the Contingent Reserve Agreement (CRA), amounting to $100 billion, as a buttress against any future financial crisis, despite the broad differences in strategic interests and economic capabilities among the BRICS members and the considerable scepticism about the viability of the project. What will be the impact of the NDB on global governance? Will the BRICS countries be able to operate the NDB effectively?

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