Since its establishment in 2015, the New Development Bank, the NDB, also known as the BRICS Bank, has endeavored to cater to the socio-economic development and environmental protection needs of its member States. As part of its new general strategy, the NDB will work towards aligning its new operations with the Paris Agreement. It says it aims to direct 40 percent of its total financing over the 2022 -2026 period to projects contributing to climate change mitigation and adaptation.