New Development Bank (NDB) was established by Brazil, Russia, India, China and South Africa (BRICS) in 2014. It was established to mobilise resources for infrastructure and sustainable-development projects in BRICS and other emerging economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development.

According to NDB’s general strategy, sustainable infrastructure development is at the core of the bank’s operations for 2017-2021. NDB has AA+ long-term issuer credit ratings from S&P Global Ratings and Fitch Ratings and AAA foreign-currency long-term issuer ratings from Japan Credit Rating Agency and Analytical Credit Rating Agency.

In 2020, NDB launched its Sustainable Financing Policy Framework governing the issuance of green, social and sustainability (GSS) debt instruments of the bank. The framework describes the bank’s principles in governing the use and management of the proceeds of GSS bonds issued in international and domestic capital markets of its member states. NDB will use its EMTN programme for the purpose of GSS issuance in international markets.

In line with best market practices, NDB also obtained a second-party opinion from Sustainalytics to ensure the framework conforms with relevant regulations and is sufficiently robust in meeting the bank’s environmental and social objectives.

The projects financed through GSS bond issuance under NDB’s framework are expected to provide positive environmental and social impacts and advance the transition to a low-carbon economy in BRICS and other emerging economies and developing countries.

Investor relations
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SUSTAINABILITY OBJECTIVE OF GSS BOND PROGRAMMES
Clean transportation, energy-efficient buildings, energy efficiency, renewable energy, sustainable land use and biodiversity, sustainable waste management, sustainable water management and irrigation, basic sustainable infrastructure, education, healthcare and wellbeing, and social housing.