The BRICS group of developing nations - Brazil, Russia, India, China and South Africa - intends to announce a new guarantee fund backed by the New Development Bank (NDB) to reduce financing costs and stimulate investment. The proposed BRICS Multilateral Guarantee (BMG) mechanism, developed within the NDB, has received technical approval from member states.

This initiative draws inspiration from the World Bank's Multilateral Investment Guarantee Agency (MIGA) and aims to address uncertainties arising from the unpredictable policies of the Trump administration. Additionally, the recent Israel-Iran conflict and the associated risks, including transcontinental business disruptions and vulnerabilities in financial markets, have also contributed to the push for alternative solutions.

Notable achievements of BRICS since the inaugural BRIC summit in Yekaterinburg, Russia, in June 2009 include the establishment of the BRICS New Development Bank (NDB) and the $100 Contingent Reserve Arrangement (CRA) to provide liquidity support to BRICS members in the event of balance-of-payments crises.

As of June 2025, intra-BRICS trade had reached approximately $1 trillion, with projections to surpass $1.2-1.3 trillion by 2025, as reported by Kirill Dmitriev, special representative of the President of the Russian Federation for........

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