The New Development Bank (NDB), established by BRICS countries, is revolutionizing growth and sustainability in developing economies. From 2023 to 2024, the bank approved 11 major projects in Brazil, China, and India, committing an estimated $500 billion. In May 2024, NDB issued its first non-sovereign loan in China worth $50 million. As a bridge between BRICS nations, NDB is connecting the world to a greener, more sustainable future.
BRICS bridge- The New Development Bank (NDB), created by BRICS countries, is revolutionizing growth and sustainability in developing economies and establishing a new global standard. From January 2023 through September 2024, the bank sanctioned 11 transformational projects in Brazil, China, and India that carved out an estimated $500 billion in commitments across many critical sectors, including water management, transport infrastructure, and clean energy.
In May 2024, NDB completed its first non-sovereign loan in China, marking an important milestone. This USD 50 million loan was provided to the Bank of Huzhou to support sustainable infrastructure projects in the Zhejiang Province. As a result, this initiative not only attracted private sector participation in sectors including clean energy, transport, and water but also accelerated the development across various municipalities.
NDB is fast-tracking the growth of emerging economies and meeting the international sustainable development agenda through investments in strategic projects, positioning itself to make substantial contributions in fighting climate change and fortifying enduring economies globally. The bank serves as more than an investor, as a BRICS bridge the bank connects the world to a greener, more sustainable global future.