The sustained growth of rising powers, including the grouping known as the BRICS (Brazil, Russia, India, China and South Africa) is reshaping global governance arrangements. Annual BRICS summits and inter-ministerial meetings seek to reform existing international financial and economic institutions and promote a multipolar system of global order.
The BRICS are also gaining prominence amongst ’emerging donors’, building on a tradition of South-South development cooperation, which has grown outside the framework of the OECD Development Assistance Committee. As Southern donors become major players, and with the potentially significant role of a new BRICS Development Bank, what might a polycentric international development system look like and what are the policy implications?
This policy briefing was produced as part of the IDS Rising Powers in International Development programme.