In parallel to its membership expansion, BRICS is advancing initiatives to create alternative financial systems. For example, the BRICS New Development Bank has approved 98 infrastructure projects totaling $33 billion since its inception, positioning itself as a credible alternative to Western-dominated financial institutions. Additionally, the group is working towards an intra-bank payment system, aimed at reducing reliance on the dollar in cross-border transactions, which is seen as a key step toward de-dollarization.