Palestine has applied to join the BRICS New Development Bank (NDB) and expects to be accepted into the association itself as a full member. This was stated by the advisor to the President of Palestine, Mahmoud al-Habash.
„Palestine has good relations with all countries of the group. Russia, China and South Africa have historically been countries friendly to the Palestinian people. We asked to be accepted as members of the community. We applied to join the NBR“, he said in an interview with Agência de Notíacute;cias Brasil-Árabe
In October, following the results of the BRICS summit in Kazan, the meeting participants agreed to jointly transform the NDB into a new type of multilateral development bank (MDB) of the 21st century. The association also supported the further increase in the number of NDB shareholder countries and the accelerated consideration of applications from BRICS countries in line with the bank's overall strategy and relevant policy measures.
The NDB was established in BRICS based on an intergovernmental agreement signed at the 6th Summit of the Association in Fortaleza, Brazil in July 2014. The purpose of the bank is to finance infrastructure projects and programs for sustainable development in the BRICS countries and developing countries.
The equity capital of NDB is 100 billion. USD. Its securities have an international long-term debt credit rating of "AA+". from S&P Global Ratings, which allows you to effectively attract long-term financing in international and local capital markets.