The New Development Bank (NDB), established by BRICS nations, is navigating the economic repercussions of sanctions against Russia by focusing on local currency fundraising and lending. With South Africa hosting a BRICS summit, Finance Minister Enoch Godongwana emphasized the need to increase local currency usage among NDB members to mitigate the impact of foreign exchange fluctuations. The NDB, formed in 2015, faces challenges due to economic realities and the Russia-Ukraine conflict. CFO Leslie Maasdorp aims to boost local currency lending from 22% to 30% by 2026, reducing dependence on U.S. capital markets and navigating increased borrowing costs. Despite hurdles, the NDB eyes expansion, welcoming new members to strengthen its financial health.