BRICS Bank Issues $50M Debt in Macao for Brazil Projects
In a milestone move for the region’s growing influence as a financial hub, the New Development Bank (NDB)—widely known as the “BRICS bank”—has issued debt in Macao for the first time. The funds raised are earmarked to finance critical development projects in Brazil, the Monetary Authority of Macao (AMCM) announced on Monday.
A Strategic Financial Link
The debt issuance, valued at $50 million (€43.9 million), was officially concluded today following its registration at Macao’s central securities depository. The operation was fully subscribed by the China-Portuguese Speaking Countries Cooperation and Development Fund, a specialized vehicle established a decade ago to foster economic ties between China and the Lusophone world.
According to the AMCM, this successful bond issuance serves as a “concrete manifestation” of Macao’s evolving role as a financial services bridge. By linking Chinese capital with Portuguese-speaking nations, the territory is positioning itself as a vital intermediary in global South-South cooperation.
Funding Growth in Brazil
While specific details regarding the initiatives were not disclosed, the AMCM confirmed that all proceeds from the issuance will support ongoing or upcoming projects in Brazil. This move strengthens the financial ties between two founding members of the BRICS bloc—China and Brazil—utilizing Macao’s unique administrative and linguistic positioning.
The China-Portuguese Speaking Countries Cooperation and Development Fund, which backed the issuance, has become increasingly active in recent years. As of mid-2024, the fund had invested approximately €527 million across 11 projects in Portugal, Brazil, Angola, Mozambique, and Macao itself.
Building Macao’s Financial Reputation
This issuance is part of a broader trend of Chinese state-backed institutions utilizing Macao’s nascent bond market. In January, the China Development Bank (CDB) became the first state-owned bank to issue debt in the territory, raising 5.5 billion yuan (€710 million) to finance Lusophone projects.
The NDB, headquartered in Shanghai and currently led by former Brazilian President Dilma Rousseff, remains a core pillar of the BRICS alliance (Brazil, Russia, India, China, and South Africa). Rousseff, who was re-elected to a five-year term as head of the bank in March 2025, has focused the institution’s efforts on sustainable development and infrastructure across member nations.
By choosing Macao for this issuance, the NDB reinforces the territory’s 2003 mandate from Beijing to serve as a specialized platform for economic and commercial cooperation between China and the Community of Portuguese Language Countries (CPLP).
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