BRICS Bank approves strategy for 2017-2021

BRICS Bank approves strategy for 2017-2021

The New Development Bank (NDB, BRICS Bank) during the coming five years will focus on financing sustainable development and infrastructure projects, the Bank’s Strategy for 2017-2021 reads.

The bank "will mobilize resources for infrastructure and sustainable development projects in BRICS and other EMDCs," TASS cited the document as saying.

"Sustainable infrastructure development is at the core of NDB’s operational strategy in 2017-2021, and the Bank will dedicate about two-thirds of financing commitments in its first five years to this area. Physical infrastructure is a critical enabler of faster and inclusive economic growth, and sustainability criteria are essential to ensure this infrastructure safeguards the physical and social environment for current and future generations."

"NDB will utilize a full range of financing instruments, moving beyond long-term loans to include guarantees, syndicated loans with private investors, equity investments, project bonds and co-financing arrangements with national and multilateral development finance institutions. Local currency financing is a key component of NDB’s value proposition, as it mitigates risks faced by borrowers and supports the deepening of capital markets of member countries. NDB intends to operate at scale, and is now designing criteria and a strategy to expand membership to new countries," the document reads.

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