CAPE TOWN, August 30. /TASS/. The role of the New Development Bank (NDB) will steadily grow globally along with development of economies of BRICS countries, deputy head of the Russian presidential administration Maxim Oreshkin told TASS.

"A decade has passed since the moment when BRICS countries created the New Development Bank," Oreshkin said. "We see operations of the bank are gaining momentum and now, in my opinion, the time has come for the NDB to assume a qualitatively new role," he noted.

Oreshkin came to Cape Town, where he takes part in discussions of the annual sessions of the NDB Board of Governors.

"A number of mechanisms is being discussed in Cape Town, including at closed sessions, which will make it possible to increase the level of investments in economies of participating countries," Oreshkin continued. "Issues are discussed that are linked to financing, payments, and general operation of financial institutions so that they rely to a more significant extent on decisions and approaches existing in BRICS countries and technological approaches BRICS countries have. All the discussions now are around that and, in this aspect, the NDB future will grow from the standpoint of its role in the new wave of global growth and growth of BRICS countries’ economies," he added.

The New Development Bank was established in July 2014. Its members are Bangladesh, Brazil, Egypt, India, China, the United Arab Emirates, Russia, and South Africa. The goal of bank’s operation is to finance infrastructural and sustainable development projects in BRICS countries and developing economies.