Journal Press India®

New Development Bank: Importance and Role in Sustainable Economic Development

Vol 2, Issue 2, July - December 2015 | Pages: 77-89 | Research Paper  

 
Article has been added to the cart.View Cart (0)
https://doi.org/10.17492/mudra.v2i2.9665


Author Details ( * ) denotes Corresponding author

1. * K.B Dhore, Department of Economics, SNDT Women’s University, Mumbai, Maharashtra, India (ram.unipune@gmail.com)

As of 2014, the five BRICS countries represent almost 3 billion people which is 40% of the world population, with a combined nominal GDP of US$16.039 trillion (20% world GDP) and an estimated US$4 trillion in combined foreign reserves. As of 2014, the BRICS nations represented 18 percent of the world economy. BRICS leaders have approved creating a New Development Bank which would fund long-term investment in infrastructure and more sustainable development.  It then estimates the likely level of loans that this New Development Bank could make, under different assumptions. It highlights the complementary role that such a bank would play with existing development banks and shows its importance for enhancing the influence of BRICS and other developing countries in the international development architecture. On the other hand, there are doubts about the nature and coherence of the group. There is also concern that the economic agenda of BRICS could pose new challenges to human rights and development, particularly given the absence of domestic frameworks for accountability on international engagements.

Keywords

Sustainable Development, World Population, GDP, Infrastructure

-

Abstract Views: 145
PDF Views: 119

Advanced Search

News/Events

Institute of Managem...

Deccan Education Society Institute of Management Development and Re...

S.B. Patil Institute...

Pimpri Chinchwad Education Trust's S.B. Patil Institute of Mana...

D. Y. Patil IMCAM, A...

D. Y. Patil Institute of Master of Computer Applications & Managem...

Vignana Jyothi Insti...

Vignana Jyothi Institute of Management International Conference on ...

Department of Commer...

Department of Commerce, Faculty of Commerce & Business, University...

Birla Institute of M...

Birla Institute of Management Technology (BIMTECH) 3rd Pritam Singh M...

OP Jindal University...

OP Jindal University, India 4th International Conference on  ...

Department of MBA, N...

Department of MBA, Narayana Engineering College Nellore International...

Vignana Jyothi Insti...

Vignana Jyothi Institute of Management Conference Proceedings,...

Online Proceedings R...

Conference Proceedings, March 2023 ISBN: 978-81-956810-6-8 ...

By continuing to use this website, you consent to the use of cookies in accordance with our Cookie Policy.