NEW DELHI, May 15. /TASS/. BRICS foreign ministers have called for a further increase in the number of participants in the New Development Bank (NDB), according to the final statement issued by India’s Ministry of External Affairs following the BRICS Foreign Ministers’ Meeting in New Delhi.

The diplomats "reiterated support for the further expansion of NDB membership and expedited consideration of applications of interested BRICS countries, in line with the NDB General Strategy and its related policies," the document reads.

The ministers expressed their appreciation to Russia for holding the 11th NDB Annual Meeting in Moscow on the 14-15 May 2026 as the Chair of the Board of Governors of the New Development Bank.

They also encouraged "further efforts by the Bank to expand steadily its capacity to mobilize resources, foster innovation, expand local currency financing, diversify funding sources, and support impactful projects that advance sustainable development, reduce inequality, and promote infrastructure investments and economic integration," the statement said.

The New Development Bank was established in 2015 by Brazil, Russia, India, China, and South Africa to mobilize resources for infrastructure and sustainable development projects in the BRICS countries and other developing countries. Its headquarters are located in Shanghai. The bank has an AA+ rating with a stable outlook from S&P Global Ratings, an AA rating with a stable outlook from Fitch Ratings, and an AAA rating with a stable outlook from the Japan Credit Rating Agency.