Key Charts - Size and Structure
BRICS Bank: New Bank on the Block
- New Development Bank (NDB) created by the BRICS nations may give competition to the World Bank and existing regional development banks like Asian Development Bank, Inter-American Development Bank and African Development Bank.
- Outside of the OECD, these countries are the largest economic bloc in the world. Their share of world GDP has tripled, and total reserves have increased by almost six times, since 1993.
- If the BRICS were to set aside one-fifth of their forex reserves (almost $5 trillion as of 2013), they can create a fund equivalent to the IMF ($1 trillion).
Source: World Bank World Development Indicators, July 2014
1 What the new bank of BRICS is all about, Washington Post, July 17, 2014
2 Infrastructure gap, World Bank
3 China is now India’s top trading partner—and one of its least liked, Quartz March 3,2014
4 IMF Fund size