Establishment of the New Development Bank (NDB) was met by scholars differently but mostly caused positive appraisal. The NDB was even characterized as “multilateral development bank of a new generation” and “an alternative for BrettonWoods system”. But does the NDB justify its “new generation” characteristic in view of its voting mechanism? At present, NDB’s member states have equal voting powers in decision-making procedures. However, provisions of Agreement on the NDB do not exclude the situation where distribution of votes among members may become unequal. That means that the principle of sovereign equality of states was not fully implemented in bank’s voting mechanism. However, the author considers that establishment of the multilateral bank of development (i.e. the NDB) whose founding (and nowadays the only) members have equal votes in its decision-making procedures, may testify to the tendency towards better implementation of the principle of sovereign equality of states in multilateral development banks’ voting mechanisms. The author argues that Russia and Latin American states could evolve this tendency by way of establishment of multilateral development bank which voting mechanism might be based upon “one state — one voice” principle. Establishment of the bank could not only provide benefits for its members derived from bank’s activities but also contribute to development of international law with respect to full implementation of the principle of sovereign equality of states in multilateral development banks’ voting procedures.