KREDITIRANJE RAZVOJNIH PROJEKATA OD STRANE BRETONVUDSKIH I FINANSIJSKIH INSTITUCIJA BRIKS-a
FINANCING OF DEVELOPMENT PROJECTS BY THE BRETTON WOODS AND BRICS FINANCIAL INSTITUTIONS

Summary/Abstract: The subject of this paper is an introduction to a multipolar world, as it elaborates the essential differences between the lending conditions for development projects by Bretton Woods financial institutions and those established by BRICS member states. The paper is divided into two parts: the first part gives a brief history of the establishment of European and American financial institutions, including the establishment of the International Monetary Fund (IMF) and the World Bank (WB) under conditions of neoliberal capitalism, while the second part focuses on the financial institutions founded by BRICS members, including the Chinese “Belt and Road Initiative“, the Asian Infrastructure Investment Bank (AIIB), and the BRICS New Development Bank (NDB), which emerged during the creation of a multipolar world. At the end of the paper, conclusions are drawn that highlight the opposing principles and conditions under which Western financial institutions fund development projects in developing countries, continuously creating crises that are difficult or impossible to overcome, compared to the financing conditions offered by Eastern banks, established by BRICS countries, that provide loans without conditionalities that jeopardize a country’s economic and political integrity, with the promotion of respect for international law and the equality of all nations, thereby creating a new, fairer multipolar world.

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