Belarus begins technical consultations on joining BRICS New Development Bank

MOSCOW. April 28 (Interfax) - The Belarusian Finance Ministry has begun technical consultations on the country's accession to the BRICS New Development Bank, the ministry's press service reported.

"Today, an important step was taken for our country: technical consultations with the New Development Bank on the terms of Belarus's participation in the bank's activities have begun," the ministry's press service said.

"What does this mean for Belarus? Access to affordable financing for the country's development. Less dependence on the U.S. dollar: settlements will be possible in the national currencies of BRICS countries. More investment in infrastructure and promising projects," the ministry's press service explained.

Belarus officially became a BRICS partner country in November 2024. In February of this year, Minsk announced its readiness to join the BRICS New Development Bank.

The New BRICS Development Bank was established in 2015 as an alternative to Western financial institutions for financing infrastructure and sustainable development projects in the BRICS countries and developing countries.