Nikkei Asia, October 24 report, Pakistan is seeking China's support to join the New Development Bank (NDB) of the BRICS, in order to diversify its financing channels, but may face opposition from India. It is reported that during the International Monetary Fund/World Bank (IMF/World Bank) annual meeting on October 13-18, Pakistan's Finance Minister Muhammad Aurangzeb met with the Chinese Vice Minister of Finance Liao Min and expressed his hope for China's support in joining the NDB. Sources said that Pakistan formally applied to join the NDB in early 2025, and the relevant process is currently underway. According to regulations, an application country needs to obtain the approval of at least four of the five founding BRICS countries to join. Given the long-term tense relations between India and Pakistan, India may not agree to Pakistan's application, but if Pakistan receives China's support, China may try to secure the approval of Brazil, Russia, and South Africa. Analysts believe that due to funding delays and security issues faced by "Belt and Road" projects in Pakistan, China is using "multilateral lending institutions" to diversify risks, so it may support Pakistan's joining of the NDB.
Original: www.toutiao.com/article/1846968747072516/
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