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This paper takes aim at the international financial system through the lens of the New Development Bank of the BRICS countries with an analysis of the Bank’s impact and relevance vis-à-vis the system. The work compares the traditional characteristics of international development institutions such as the World Bank and financial entities directed by national authorities with international solutions such as the New Development Bank, whose goals are to boost the infrastructure and renewable energy sectors of its five member countries as well as those of other developing countries. The work lays out insightful data on foreign direct investment of BRICS, GDP growth analyses, imports and exports inside and outside the BRICS group for a clearer understanding of the companies and businesses involved in the group. The work highlights an outlook of investment and development engaged in this new form of South-South cooperation which has been created by BRICS.

About the Authors

Thiago Ferreira Almeida
Municipality of Belo Horizonte, Health Sector.
Russian Federation

Thiago Ferreira Almeida (Belo Horizonte, Brazil) – lawyer and specialist in international law and Public-Private Partnerships (PPP), municipality of Belo horizonte, healthcare sector. 

925 Goncalves Dias St., City of Belo Horizonte, State of Minas Gerais, 30140-091.

Roberto Luiz Silva
Federal University of Minas Gerais.
Russian Federation

Roberto Luiz Silva (Belo Horizonte, Brazil) – Dean, school of law, Federal university of minas gerais.

100 João Pinheiro av., City of Belo horizonte, state of minas gerais, 30130-180.


1. Jones s. BRICS and Beyond: Executive Lessons on Emerging Markets (Chichester: Wiley, 2012).

2. Stuenkel O. The BRICS and the Future of Global Order (lanham: lexington Books, 2015).


For citations:

Almeida T.F., Silva R.L. THE DEVELOPMENT BANK OF BRICS. BRICS Law Journal. 2018;5(4):5-32.

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ISSN 2409-9058 (Print)
ISSN 2412-2343 (Online)