At the New Development Bank’s headquarters in Shanghai, Chinese President Xi Jinping met with the bank’s president, Dilma Rousseff, on Tuesday. Xi praised the bank as a groundbreaking initiative that represents unity and self-improvement for nations in the Global South.
Rousseff, who recently began her second term as president of the bank, greeted Xi alongside the bank’s four vice presidents and other staff members. Xi congratulated Rousseff on her reelection and highlighted the bank’s significant role as the first multilateral development institution established and led by emerging markets and developing countries.
“The New Development Bank is a pioneering initiative for the unity and self-improvement of the Global South,” Xi said. “It aligns with the historical trend of reforming and improving global governance.”
Xi noted that broader cooperation among BRICS countries—Brazil, Russia, India, China, and South Africa—has entered a stage of high-quality development. He expressed confidence that the bank is poised to embark on its second “golden decade” of growth and success.
He encouraged the bank to focus on the development needs of the Global South by providing high-quality, affordable, and sustainable financing for infrastructure projects. Xi also emphasized the importance of improving the bank’s management and operations, implementing more technological and green finance projects, and helping developing countries bridge the digital divide and pursue green, low-carbon transformation.
In discussions about reforming the international financial architecture, Xi urged the bank to amplify the voice of the Global South, safeguard their legitimate rights and interests, and support their journey toward modernization.
As the host country, Xi affirmed China’s commitment to supporting the New Development Bank’s operations and development. He stated that China is eager to strengthen project cooperation with the bank, focusing on green, innovative, and sustainable development to achieve greater results. Additionally, China is willing to share its development experience with other member countries through the bank and is ready to provide more international public goods.
