Dilma Rousseff elected president of the NDB

The declaration supported discussion of guiding principles, criteria and procedures for possible expansion through the Sherpas. It did not yet admit new BRICS members.

Leaders supported the African Union’s Agenda 2063 and Africa’s work toward the African Continental Free Trade Area.

Leaders from BRICS and other developing countries discussed cooperation to implement the UN 2030 Agenda. Participation in the dialogue did not constitute BRICS membership.

At their third meeting, ministers addressed disaster prevention and management capacity and continued exchange on risk reduction.

Egypt deposited its accession instrument and became an effective member of the New Development Bank; its later BRICS invitation was a separate decision.

The eighth annual meeting discussed the bank’s development role and was its first governors meeting at the new headquarters.

The ministers’ joint statement preceded the summit and supported more representative multilateral institutions and cooperation among developing economies.

The bank issued ZAR 1.5 billion across three- and five-year tranches in South Africa, a step toward raising more development finance in members’ currencies.

At the summit in South Africa, leaders placed African development, inclusive multilateralism and sustainable growth at the centre of BRICS cooperation.

Leaders sought stronger developing-country representation in the UN and international financial institutions, including a larger voice in IMF governance.