The New Development Bank (NDB), also known as the BRICS Bank, has approved 120 projects totaling nearly $4 billion in loans. These projects focus on clean energy, transportation, and infrastructure across Africa, Bangladesh, Pakistan, and Sri Lanka. The NDB is issuing these loans primarily in local currencies, including the Chinese yuan, as part of its strategy to increase local currency loans to 30% by 2026. This move aims to reduce reliance on the U.S. dollar and support a multipolar financial system.