New Development: The BRICS Bank and the International System

The BRICS have decided to pursue influence through the New Development Bank. This bank will provide both development grants and emergency reserves, combining the functions of both the World Bank and the IMF in one institution. It can help make the world of international development and stabilization multi-polar, providing an alternative when necessary and becoming a more attractive option for countries tired of Western dominance and the strict conditions that often come with IMF and World Bank assistance.