The meeting took place on the sidelines of Madanizadeh’s visit to India and formed part of Iran’s broader economic consultations alongside the BRICS summit.

The two sides discussed the NDB’s capacity to finance infrastructure and sustainable development projects, mobilise resources for economic initiatives and deepen financial cooperation among member countries and emerging economies.

The NDB, established by the BRICS countries, provides financing for infrastructure and sustainable development projects in its member states and other emerging economies through a range of financial instruments.

Among the areas of particular interest were the expanded use of national currencies in trade and development finance, the mobilisation of investment for development projects, and stronger financial and economic cooperation among BRICS members.

The discussions also focused on potential avenues through which Iran could draw on the NDB’s financial capabilities to advance its development objectives. The meeting underscored Tehran’s continuing efforts to broaden its economic engagement within BRICS and explore alternative sources of development finance and investment.