The BRICS economies—Brazil, Russia, India, China, and South Africa—represent the vanguard of emerging economies. Over the past 20 years, they have benefited from both the benefits and drawbacks of globalisation, impressing with quick, accelerated growth rates. Hence the need to study the BRICS New Development Bank As Alternative To The World Bank And IMF: A Better Economic Balance And Sustainable Development For African Region.” In recent decades, the BRICS have garnered a lot of attention on the international relations and economic scenes. These nations, which were previously categorised as "emerging economies," have demonstrated impressive rates of economic growth over the past few years. It is believed that they have undergone a process of structural transformations that has brought them quickly up to the level of worldleading economies. This ongoing process might also cause the global economy to tilt in favour of developing nations rather than already established international regions like the G7. The BRICS group has questioned certain existing norms in terms of global governance (Viswanathan 2015: 25). This argument can be taken a step further by noting that not only has the group questioned certain existing norms but also by creating a development financial institution, the group has started to reform these norms. By creating the NDB, BRICS adopted a stance that gave its constituent nations and other emerging economies (and developing states) a voice and a way to be heard that may have been scarcely audible with organisations like the IMF and the World Bank. Therefore, it appeared that creating a financial institution to cater to the demands of the group's members as well as those of other emerging markets was the necessary but drastic next step to meet these development's financial needs. Many Africans think the Bretton Woods institutions were ineffective in addressing Africa's poverty and underdevelopment. The majority of local and non-Western researchers have favourable opinions of BRICS and its African policy, and BRICS has generally good relations with African nations. Through the lens of these mega-trends, "the phenomenon of BRICS," which is in the spotlight as the process of shifting the global economy's centre of gravity from the West, Western or "Global North" to the Orient, East or "Global South," unquestionably contributes to the challenges of the coming decades. Although the mechanisms underlying this process are intricate, their economic growth is supported by a number of factors vital to any economy, including resources, affordable labour, domestic investment, particularly foreign investment in strategic areas, and the desire to have a stronger international voice.

Key words: BRICS New Development Bank; Bretton wood Institutions; Global Financial Architecture; International Monetary Fund; World Bank, International Monetary Fund.