New Delhi, The BRICS countries on Saturday said the New Development Bank (NDB) is a crucial institution for promoting sustainable development, reducing inequalities and supporting resilience in emerging economies."As the New Development Bank embarks on its second golden decade of high-quality development, we recognise and support its growing role as a robust and strategic agent of development and modernisation in all shareholder countries and in the Global South," said the 'New Delhi Declaration' issued by BRICS members.The members underscored the NDB's growing role in meeting the development priorities and infrastructure needs of Emerging Markets and Developing Countries (EMDCs).Read all BRICS-related stories hereBRICS also encouraged further efforts by the bank to expand steadily its capacity to mobilise resources, foster innovation, expand local currency financing, diversify funding sources, and support impactful projects that advance sustainable development, reduce inequality, and promote infrastructure investments and economic integration."We recognise NDB as a crucial BRICS institution for promoting sustainable development, reducing inequalities, and supporting resilience in emerging economies," the Declaration said.The BRICS countries further encouraged the NDB to follow a member-led and demand-driven principle and continue strengthening its governance framework to enhance its institutional resilience and operational effectiveness.The BRICS also reiterated support for the further expansion of NDB membership and expedited consideration of applications of interested BRICS countries, in line with the NDB General Strategy and its related policies.Established in 2015 by BRICS countries, the New Development Bank is a multilateral development bank aimed at mobilising resources for infrastructure and sustainable development projects in BRICS and other EMDCs.The leaders of BRICS countries are meeting in the National Capital on September 12-13 for the 18th BRICS Summit, being held under the theme: 'Building for Resilience, Innovation, Cooperation and Sustainability'.Also read: BRICS Summit 2026: PM Modi launches two postage stamps commemorating 20 years of the blocThe Declaration also highlighted the important role of Supreme Audit Institutions (SAIs) in promoting accountability, transparency, effectiveness, and good governance in public administration.BRICS countries acknowledged the evolution of SAIs through complementing financial and compliance auditing with more outcome-oriented, data-driven, and impact-focused approaches.Recalling the Bengaluru Declaration adopted at the fifth BRICS SAIs Heads' Meeting, member countries also appreciated efforts to enhance the relevance, impact, and credibility of SAIs in contributing to better governance and improving the ease of living for citizens across BRICS countries.