International Relations

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April 10, 2026

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April 10, 2026

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"The role of the BRICS New Development Bank (NDB) during COVID-19 has validated the original rationale to create a new multilateral development bank... As the COVID-19 pandemic rapidly spread from Wuhan in Hubei province to surrounding regions, the Chinese Government turned to the newest multilateral development bank, the BRICS New Development Bank (NDB) for support. Within weeks of the loan approval, the NDB disbursed $1bn to Hubei, Henan and Guangdong, the three most affected provinces in China. This loan, the single largest of the Bank to date, was earmarked to provide financial support for unplanned emergency health expenditure related to the fight against COVID-19....In 2008 for example, when few financial institutions were lending during the global financial crisis, it was the multilateral development banks which significantly increased their lending.... Under usual circumstances, it can take several months for loans to be disbursed for an infrastructure project. Disbursements for COVID-19 related assistance were made as bullet payments within three to four weeks after the loans were approved.... To date, the Bank approved and largely disbursed $4bn, which comprised of a $1bn COVID-19 response loan each to China, Brazil, India and South Africa. The full $10bn to be allocated during 2020 represents additional development assistance which would not have been available if the NDB was not created five years ago."

- New Development Bank

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"Is it so obvious that the notion of the public service is in fact aligned with the concept of state sovereignty? Does the former depend on the latter? Is the public service indissolubly linked to state sovereignty? This question deserves particularly careful consideration because it is one of the central arguments deployed by the proponents of state sovereignty. Let us begin by examining the very nature of state sovereignty. Etymologically, sovereignty means "superiority" (from the Latin superanus), but superiority in regard to what? In brief, it is superiority in regard to any laws or obligations that threaten to limit the power of the state, both in its relation to other states and in relation to its own citizens. The sovereign state places itself above any commitments or obligations, which it is then free to constrict or revoke as it pleases. But as a , the state can only act through its representatives, who are all supposed to embody the continuity of the state over and above the daily exercise of their specific governmental functions. The superiority of the state therefore effectively means the superiority of its representatives over the laws or obligations that impinge upon them. This is the notion of superiority that is elevated to the rank of principle by all sovereigntists. But however unpleasant it may sound, this principle applies regardless of the of its leaders: what is essential is merely that one acts as a representative of the state, regardless of one’s particular beliefs about state sovereignty. All the concessions that were successively granted to the EU by the representatives of the French state were acts of sovereignty — for the very construction of the EU, from the beginning, was based on the implementation of the principle of state sovereignty."

- Westphalian sovereignty

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