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Putin seeks NDB-led funding boost for BRICS projects

hellohimachalse@gmail.com 12 Sep 2026 12 Sep 2026

New Delhi: Russian President Vladimir Putin on Friday pitched a new investment platform to fund projects in trade, infrastructure, logistics and technology across BRICS, while stressing that the grouping’s expanding economic cooperation was “not against anyone” and aimed instead at advancing the national interests of its members.

Addressing a gathering of BRICS business leaders ahead of the summit, Putin said Russia was ready to work with partners on infrastructure and logistics projects, including the Arctic Transport Corridor and North-South Transport Corridor, as well as cooperation in technology, artificial intelligence, unmanned transport, finance, tourism and industry.

“We are not against anyone,” Putin said. “We are in favour of our interests,” while asserting that BRICS remained open to cooperation with the wider world. Putin said the proposed NDB-based investment platform would seek to mobilise private-sector funding and make BRICS economies more competitive. He expressed hope that other BRICS members would support the initiative.

“We need funding,” Putin said, adding that the NDB was already doing significant work but could provide the basis for a broader investment mechanism. BRICS members have been exploring ways to increase development financing, infrastructure investment and the use of local financial resources while reducing dependence on traditional Western-led financial institutions. The proposal came as Putin highlighted what he described as a major shift in the global economic balance towards BRICS economies.

He said more than 40 per cent of global GDP had been produced by BRICS countries over the past five years, compared with 29 per cent for the G7, while BRICS accounted for more than half of global economic growth during the period.

“The world is always changing,” he said, arguing that the economic weight of the traditional growth centres of the second half of the 20th century was being replaced by new engines of growth. The Russian President framed the expanding BRICS economic architecture as an effort to advance national interests rather than exclude other countries.

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