Chinese experience is inspirational for New Development Bank (NDB), the financial arm of the BRICS bloc and one of the successful initiatives of the BRICS mechanism, said Dilma Rousseff, president of the bank.
Headquartered in Shanghai, the NDB was established in 2014 by Brazil, Russia, India, China, and South Africa, and officially began operations in 2015.
Its mission is to mobilize resources for infrastructure and sustainable development projects in BRICS member nations and other emerging-market economies and developing countries.
The bank is the world's first multilateral development institution established and led by emerging-market and developing countries, and is a pioneering initiative for the unity and self-improvement of the Global South.
In an exclusive interview with China Central Television, Rousseff said that the NDB has delivered impressive achievements since its establishment and has drawn inspiration from Chinese wisdom in charting its own developmental path.
"We have drawn on many of the Chinese experience. For instance, we have integrated the demand for high-quality industrialization and incorporated technology and innovation into all sectors of society. The NDB also has a feature that I consider very important. Unlike other multilateral banks, it neither imposes nor enforces conditions but instead aligns with the agendas and requirements of each member country. All member states participate on an equal footing. Among the BRICS countries, there is no situation where one member state controls the NDB and decides what it does, but this happens in others institutions that emerged from the Bretton Woods," she explained.
Rousseff also stated that within the NDB and among its partner countries, there is no veto mechanism in place and its financing framework is widely acknowledged for its flexibility and emphasis on mutual respect.
Furthermore, the bank provides innovative financing conditions that cater to diverse needs, she pointed out, adding that by utilizing local currencies for financing, the bank effectively mitigates exchange rate risks and strengthens the financial stability of projects.
Over the past decade, the NDB has provided financing support for member countries in a wide range of fields, including infrastructure, clean energy, environmental protection, and digital infrastructure.
"So far, we have approved approximately 120 projects, totaling 40 billion U.S. dollars. We believe that China's development and the model it follows is a banner, proving that all countries in the world can achieve development. Therefore, we pay close attention to China's development situation and conduct analysis. We also hope to fully expand the coverage," she continued.
Chinese experience inspirational for New Development Bank: President
Chinese experience inspirational for New Development Bank: President
Chinese experience inspirational for New Development Bank: President
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
