Committee
World Bank
Country
United States

Author

Hannes Seidel
Germany

Cite as https://mymun.com/ppdb/6130

Position Paper United States of America World Bank HDMUN 2016

Topic A – BRICS new development bank: dawn of a new era of development aid? The New development bank or NDB was founded in 2015 by the five BRICS countries who remain their sole members and sponsors. The five sponsors brought in 10 billion in authorized capital each. In their first and so far only funding announcement the bank decided to authorize loans worth 811 million USD to fund “renewable energy projects “in 4 of the five member nations. The NDN is not to be confused with the AIIB which shares a similar mission statement but features far more member states. In the view of the United States of America as well as the World Bank, there is little that distinguishes this New Development Bank from already existing national and multinational development institutions. Just as we invite all the national development institutions to cooperate with the World Bank, we also invite the NDB to work with us and to share our expertise in relevant fields. As a possible specialist for projects in the BRICS countries the NDB is welcome as a partner in the world banks ma...

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