Core Insights - The New Development Bank (NDB) has evolved significantly since its establishment, with a focus on providing financing options for developing countries, reflecting the growing influence of the Global South in the global economy [4][5]. Group 1: Development of the New Development Bank - The NDB was established during the sixth BRICS summit in July 2014, with the signing of the agreement by leaders from Brazil, Russia, India, China, and South Africa [4]. - The bank officially opened in July 2015 in Shanghai, marking a transition from vision to reality under the leadership of President Xi Jinping [4]. - Over the past decade, the NDB has approved 120 projects with a total loan amount of approximately $40 billion, enhancing financing options for Global South countries [4]. Group 2: Global South Economic Impact - The Global South now accounts for over 40% of the global economy and contributes 80% to world economic growth, transforming from a "marginal area" to a "vibrant hub" of economic activity [5]. - The concept of "Southern Awakening" and "Southern Rise" is increasingly discussed in the context of this economic shift [5]. Group 3: Future Directions - President Xi Jinping emphasized the need to align with the development needs of the Global South by providing high-quality, low-cost, and sustainable infrastructure financing [6]. - There is a focus on improving management and operations, implementing more technology and green finance projects to bridge the digital divide and accelerate green transitions in developing countries [6]. - The NDB aims to amplify the voice of the Global South in international financial discussions and support the legitimate rights of these countries in their modernization efforts [6].