Belarus has started technical consultations with the New Development Bank on participation in its activities, the Finance Ministry said. The New Development Bank is a BRICS financial institution established in 2015 to finance infrastructure and sustainable development projects.
According to the ministry, participation in the NDB would give Belarus access to low-cost financing for development, reduce dependence on the US dollar, as settlements are conducted in the national currencies of BRICS countries, and help attract investment into infrastructure and promising projects.
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