Graphics: New Development Bank supports sustainable development projects in emerging markets

The New Development Bank (NDB) is a multilateral development bank founded by the BRICS nations—Brazil, Russia, India, China and South Africa—with the aim of mobilizing resources for infrastructure and sustainable development projects in emerging markets and developing countries.

With a strong mandate and significant potential, the NDB is uniquely positioned to contribute to global growth and development efforts.

The agreement to establish the NDB was signed during the BRICS Summit in Fortaleza, Brazil, on July 15, 2014, and the bank officially commenced operations on July 21, 2015.

From January 2023 to September 2024, the NDB approved a total of 11 projects, including sovereign, non-sovereign, and technical assistance in the fields of water and sanitation, transport infrastructure and multiple other areas across Brazil, China and India.

The NDB had a total of 16 completed projects as of October 2024. 

NDB's first non-sovereign loan in China

The NDB, with its permanent headquarters in Shanghai, signed its first non-sovereign loan in China on May 28, 2024, aimed at supporting sustainable infrastructure development in eastern China's Zhejiang Province.

Under the loan agreement, the NDB will provide approximately 358 million yuan (equivalent to $50 million) to the Bank of Huzhou to finance a range of sustainable infrastructure projects in Zhejiang.

The loan will be on-lent by the Bank of Huzhou to private sector borrowers, focusing on infrastructure projects in the clean energy, energy efficiency, transportation, logistics and water and sanitation sectors, according to the NDB.

This agreement is expected to facilitate private sector participation in addressing infrastructure gaps, scaling up investments and enhancing the overall development impact in the local market.