Part 9/12:
Savik emphasizes the importance of establishing sovereign wealth funds across the Global South to pool resources, reduce dependency on Western financial institutions, and foster strategic investments. Currently, over 50% of global SWF assets are managed by countries in the Middle East, China, and Russia, with Africa gradually developing its own capacity.
The BRICS alliance can serve as a platform to coordinate these SWFs, launching large-scale infrastructure and development projects that surpass the capabilities of individual nations or even regional banks. The concept of an "NDB Plus", an expanded network of development finance institutions, aims to support less accessible regions—such as Ethiopia—thus addressing infrastructural gaps and promoting inclusive growth.