Halady Rao

New Development Bank (NDB)

The New Development Bank (NDB) is a multilateral development bank (MDB) established by Brazil, Russia, India, China and South Africa (BRICS) with the objective of financing infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries. NDB's work complements the efforts of multilateral and regional financial institutions, toward global growth and development. Our work is centered around maximizing the impact of development in a fast, flexible and efficient manner. To catalyze the kind of development we envisage, we are always keen to listen, learn and collaborate with other MDBs, governments, financial institutions and social organizations. To fulfill its purpose, the Bank supports public or private projects through loans, guarantees, equity participation and other financial instruments. Our headquarters is in Shanghai, China. The geographic distribution of NDB's operations is becoming increasingly balanced as the Bank develops its capacity to identify and prepare projects in all member countries. The first regional office of NDB – the Africa Regional Centre (ARC) – was opened in Johannesburg, South Africa, in August 2017. In July 2019, NDB began to build the Americas Regional Office team, based in São Paulo, Brazil, with a sub-office in Brasília. NDB and the Government of Russia signed the Agreement on the Hosting of the NDB Eurasian Regional Centre in Moscow, Russia on the sidelines of the 11th BRICS Summit in Brasília in November 2019.