USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Finance

NDB announces 5-year strategy, more focus on sustainable infrastructure development

Xinhua | Updated: 2017-07-04 10:21

SHANGHAI — BRICS's New Development Bank (NDB) will put about two-thirds of its loans into sustainable infrastructure development in the next five years, the bank announced in its General Strategy 2017-2021.

Physical infrastructure is a critical enabler of economic growth, and sustainability is essential for the physical and social environment of current and future generations, said the bank.

NDB also retains the flexibility to provide funding to other areas including traditional infrastructure and sustainable development projects in line with the borrowing country's overall development agenda.

The New Development Bank was founded by Brazil, Russia, India, China and South Africa (collectively BRICS) during their fifth summit in Fortaleza in July 2014 and launched a year later.

The bank is an expression of the growing role of BRICS and other emerging markets in the world economy, and their greater willingness to act independently in matters of international economic governance and development.

NDB is designing a strategy to expand membership to other countries to ensure geographic diversity and a reasonable mix of advanced, middle-income and lower-income countries.

The bank also plans more regional offices worldwide. The first regional office is being established in Johannesburg.

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US