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Role of BRICS bank questioned as SA hosts annual meeting in CT

The meeting is expected to bring together role-players from around the globe.

The 4th Annual Meeting of the Brics New Development Bank is expected to bring together role-players from around the globe. Picture: @NDB_int/Twitter

CAPE TOWN - Cape Town is on Monday hosting the 4th Annual Meeting of the BRICS New Development Bank under the theme "Partnership for Sustainable Development".

The meeting is expected to bring together role-players from around the globe.

On Sunday, ahead of Monday’s gathering, the Alternative Information and Development Centre (AIDC) along with other organisations hosted a counter-summit to interrogate the role of BRICS.

The AIDC’s Dominic Brown said that one of the findings was that BRICS was not strengthening developing economies.

“It doesn’t really provide an alternative. One example would be the kind of imperialist or sub-imperialist role that a lot of the Brics [nations] have been playing in their region and within the global economy.”