Russia's Ministry of Finance published Deputy Prime Minister Alexei Overchuk's remarks at the 11th Annual Meeting of the New Development Bank Board of Governors in Moscow, where he argued that de-globalisation is now a structural reality and urged the bank to adjust its strategy accordingly. He said the New Development Bank should help member countries strengthen energy, transport and financial connectivity and support adaptation to a more regionalised global economy. Overchuk linked that shift to broken supply chains, market regionalisation and energy price gaps, and said rising power demand from artificial intelligence and data centres would increase the need for reliable generation, including nuclear power available within some member states. On financial infrastructure, he cited Russia's domestic replacement for Visa and Mastercard, said bilateral trade with China totals about USD 240 billion with 98 percent of settlements in national currencies, and put the comparable share with Russia's closest neighbours at 93 to 95 percent. He also referred to Russia's BRICS proposals for alternative insurance and rating mechanisms and to investment in the International North-South Transport Corridor and projects in Iran and Central Asia to deepen links with the Global South. He also called on the New Development Bank to support projects on water efficiency in water-scarce regions, expand its analysis of global trends affecting member countries, and provide governors and staff with stronger expert input as they formulate the bank's new development strategy.

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