Brazilian President Praises BRICS' Bank Leadership For Efforts In Achieving Better World

Brazilian President Luiz Inacio Lula da Silva on Thursday visited the New Development Bank's (NDB) headquarters in Shanghai and said that its leadership is strengthening the financial institution's leading role in achieving a better world without poverty and hunger

MOSCOW (UrduPoint News / Sputnik - 13th April, 2023) Brazilian President Luiz Inacio Lula da Silva on Thursday visited the New Development Bank's (NDB) headquarters in Shanghai and said that its leadership is strengthening the financial institution's leading role in achieving a better world without poverty and hunger.

Lula is on a state visit to China from April 12-15 to boost bilateral relations and attract new Chinese investment in Brazil's economy.

"The New Development Bank is the product of a partnership among BRICS countries with a view to creating a world with less poverty, less inequality and more sustainability. In taking office as Bank President, Ms. Dilma Rousseff brings her extensive background and knowledge on public policies and the international scene, thus strengthening NDB's leading role in achieving a better world, without poverty or hunger," the Brazilian president was quoted as saying by the NDB.

As part of his visit to the NDB headquarters, Lula discussed ongoing and potential projects in Brazil with the bank's senior management, in particular the parties discussed renewable and clean energy, modern transport infrastructure and urban mobility, as well as water and sanitation efficiency.

Dilma Vana Rousseff served as Brazilian president from 2011 to 2016. She was impeached in August 2016 after the parliament accused her of misusing public funds. The ex-president was unanimously elected as president of the multinational bank by NDB's Board of Governors on March 24.

The NDB is an international financial institution established in 2014 at the annual summit held between Brazil, Russia, India, China, and South Africa (BRICS). The NDB aims to mobilize resources for infrastructure and sustainable development projects in the BRICS and in other emerging markets and developing countries through the provision of loans, guarantees and other financial instruments.