Larissa Wachholz, director of Vallya, a business and investment consulting firm based in Brasilia, Brazil

Larissa Wachholz, director of Vallya, a business and investment consulting firm. [Photo provided to chinadaily.com.cn]

Larissa Wachholz, director of Vallya, a business and investment consulting firm based in Brasilia, Brazil, said President Xi was right to emphasize the importance of the Shanghai-based New Development Bank, the so-called BRICS bank that issued its first loan at the end of last year.

"What will define the role of BRICS in the upcoming decade will be its ability to get the New Development Bank to work and accomplish the mission for what it was established - which is to implement the expensive infrastructure projects that will guarantee mid to long-term economic growth. That is key for us," she said.