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In July 2015, the governments of Brazil, the Russian Federation, India, the People’s Republic of China, and South Africa established the New Development Bank (NDB). NDB’s key areas of operation include clean energy and energy efficiency; transport infrastructure; water and sanitation; environmental protection; social infrastructure; and digital infrastructure. The bank prioritized high-impact operations that are climate-smart, disaster-resilient, technology-integrated, and socially inclusive.
12 Nov 2024
Multilateral development banks issued a joint statement at the Conference of the Parties 29 in Baku, outlining financial support and other measures for countries to achieve ambitious climate outcomes.
15 October 2024
Two new publications released today by the GEMs Consortium—a group of 26 multilateral development banks and development finance institutions—provide further insights on the level of credit risk in emerging markets and developing economies, according to the investment experience of consortium members.
For the first time, numerous international financial institutions including the New Development Bank have come together to collectively help the world deal with climate change.
India’s Mumbai will soon have a modern public transport system that will help decongest existing public transportation in the city. The ADB project, cofinanced by the New Development Bank, will enhance urban mobility in a city of 12 million and provide some 7.5 million daily suburban commuters with a modern, safer, and more comfortable transportation.
ADB and the New Development Bank collaborated on several knowledge products and events, including the following:
Chief financial officers and chief risk officers from major multilateral development banks and other development finance institutions convened with the three major credit rating agencies (CRAs) to continue their dialogue on updating CRAs’ rating criteria.
On the International Day for the Elimination of Violence Against Women in 2024, multilateral development banks were united in their efforts to create a world where women and girls live free from violence.
Nine multilateral development banks (MDBs), including ADB and the New Development Bank, release a shared statement on the recommendations of the Independent Panel Report on MDBs Capital Adequacy Frameworks.
The New Development Bank contributes to ADB’s development initiatives through cofinancing.
In June 2022, ADB and the New Development Bank signed a memorandum of understanding to develop and facilitate collaboration in matters of common interest and to set out areas for strategic cooperation toward achieving their common objectives.
