The 17th BRICS Summit in Rio de Janeiro brought together leaders from emerging and developing nations with a shared mission: to reshape global cooperation around multilateralism, sustainability and equitable growth.
At the heart of the Rio Declaration is a commitment to strengthening international partnerships and fostering inclusive development. Delegations highlighted the contrast between their focus on green progress and peace, versus what some called a military-first approach by certain Western nations.
One of the summit's cornerstone discussions centered on overhauling global governance. Member states called for a democratic and accountable multilateral system that operates through extensive consultation, joint contribution and shared benefits.
The Chinese delegation, led by the Chinese premier Li Qiang, reaffirmed that the Chinese mainland was eager to collaborate with Brazil and other BRICS members. Premier Li emphasized working collectively toward a fair, efficient and orderly global governance framework that builds a better world for all.
Another key highlight was the New Development Bank's (NDB) push to make development funding more affordable. Media estimates suggested every dollar from the NDB could unlock between $5 and $10 in private capital, a potential game-changer for projects in infrastructure, clean energy and social services.
The Rio Declaration praised the NDB's ability to mobilize resources, expand local currency financing and support projects that drive sustainable development and reduce inequality. Boston University experts note the NDB was created by, led by and for emerging and developing countries, ensuring that no single member can dominate decision-making.
With 12 founding members and more on the horizon, the NDB stands out as a symbol of the BRICS vision: a collaborative engine for equitable growth that delivers tangible benefits to communities around the world.
As the summit wraps up, the focus shifts to turning these ambitious declarations into real-world projects. For young global citizens, entrepreneurs and changemakers, the question remains: can this renewed spirit of multilateralism and the NDB's catalytic funding reshape a more balanced global economy?
Reference(s):
cgtn.com
