Background
National development banks, particularly from BRICS (Brazil, Russia, India, China, and South Africa) countries, are taking on new roles as they become major players in international development. On a geopolitical level, they are challenging the dominance of Western-dominated institutions in shaping the economies of developing countries around the world. On a policy level, they are emerging as a foil to traditional development institutions, like the World Bank, in setting international environmental and social financing standards. On project level, they are bankrolling tens of billions of dollars’ worth of infrastructure, resource extraction and other projects, with profound implications for local communities and entire countries.
The emergence of national development banks from BRICS countries may suggest the rise of potential alternatives to the “Washington consensus” model of economic development. But what, precisely, is the development model being promoted by BRCIS-based national development banks, and will it lead to more sustainability, accountability and stability?
Purpose
This conference will seek to deepen existing knowledge and understandings on how to advance sustainable and accountable finance practices at national development banks, given their dynamic, new role in the global economy. Because of the complex and constantly evolving nature of national development banks, the conference will focus in exploring the following key questions:
- Definition of National Development Banks – what is their role and purpose? How is national development banks governed across BRICS countries?
- New BRICS Alignments – what are the possibilities and limitations of new international alliances such as the International Development Finance Club and the BRICS bank? How will they redefine or alter the global economic and financial landscape?
- Sustainability and Accountability – what are the environmental and social accountability standards at national development banks? How do national development banks compare with each other and with traditional development financiers, and what are the implications?
- Models of Sustainable Development and Finance – what are existing models? What are the challenges and opportunities, benefits and risks for BRICS-based national development banks in advancing sustainable development and finance?
In addition to these key questions, the conference will potentially include other relevant topics, such as a review of case studies, national development banks’ overseas investments, and the relationship between state-owned enterprises and national development banks.
Co-organized by：
A Review of the Environmental and Social Policies of National Development Banks
