<\/p>\n
The New Delhi Declaration reflects BRICS members’ efforts to deepen cooperation as rising debt, investment constraints, and global fragmentation put pressure on developing economies.<\/p>\n
<\/p>\n
Ubuntu Centre for Peace and Strategic Studies Executive Director Dr Sabir Ibrahim said South-South cooperation offered developing countries an alternative platform for advancing economic priorities. \u201cFor the Global South, BRICS is the only hope for South-South cooperation,\u201d Ibrahim said.<\/p>\n
<\/p>\n
\u201cI believe it is the only alternative for the development and aspirations of the South.\u201d<\/p>\n
<\/p>\n
BRICS members differ politically and economically, but Ibrahim said shared development challenges created a strong incentive for cooperation. \u201cFor the member countries, they have no option. They have to cooperate,\u201d Ibrahim said.<\/p>\n
<\/p>\n
Ibrahim said the bloc should maintain a strong focus on economics, including investment, financial diversification and reducing dependence on established international financial arrangements.<\/p>\n
<\/p>\n
Debt was among the major concerns discussed during the summit as developing countries face rising borrowing costs and limited access to affordable financing.<\/p>\n
<\/p>\n
Ibrahim said BRICS could support indebted countries by financing infrastructure and improving access to loans through the New Development Bank (NDB). \u201cBRICS could help developing countries through infrastructure and by easing access to loans from the NDB,\u201d Ibrahim said.<\/p>\n
<\/p>\n
However, the bloc\u2019s ability to offer meaningful alternatives would depend on the scale, affordability and accessibility of NDB financing.<\/p>\n
<\/p>\n
African participation in BRICS has also increased the continent\u2019s influence within discussions about investment, trade and development finance.<\/p>\n
<\/p>\n
Egypt and Ethiopia held bilateral meetings with Russia and host India on the sidelines of the summit as part of efforts to deepen economic and diplomatic relations.<\/p>\n
<\/p>\n
Ibrahim said Egypt was seeking additional investment, particularly in energy, as the country addressed economic pressures. Ethiopia was also looking to strengthen partnerships capable of supporting national and regional priorities.<\/p>\n
<\/p>\n
Closer ties with India and Russia could give both African countries greater access to investment, infrastructure financing and international markets. \u201cThe importance of Africa as a market and a hub of resources is very crucial,\u201d Ibrahim said.<\/p>\n
<\/p>\n
\u201cThe engagement of African countries within BRICS is also gaining importance.\u201d<\/p>\n
<\/p>\n
Ibrahim said Africa should use the bloc to diversify investment partnerships and secure development financing.<\/p>\n
<\/p>\n
–ChannelAfrica–<\/p>\n","protected":false},"featured_media":45253,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-45447","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The 2026 Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, South Africa and the United Arab Emirates (BRICS) Summit has concluded in New Delhi with the unanimous adoption of a declaration covering trade, terrorism, artificial intelligence and reform of global institutions.","published_date":"","news_description":"The 2026 Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, South Africa and the United Arab Emirates (BRICS) Summit has concluded in New Delhi with the unanimous adoption of a declaration covering trade, terrorism, artificial intelligence and reform of global institutions.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/45447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":2,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/45447\/revisions"}],"predecessor-version":[{"id":45449,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/45447\/revisions\/45449"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/45253"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=45447"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=45447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}