New Development Bank (NDB) was established by Brazil, Russia, India, China and South Africa (BRICS) in 2014, with Bangladesh and the UAE becoming members in September and October 2021 respectively. Uruguay and Egypt are prospective members and will each become official members once they deposit their respective instruments of accession.

NDB was established to mobilise resources for infrastructure and sustainable development projects in its member states and other emerging economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development.

According to the bank’s general strategy, sustainable infrastructure development is at the core of its operations.

NDB has a sustainable financing policy framework governing the issuance of green, social and sustainability (GSS) debt instruments. 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 practice, NDB also obtained a second-party opinion from Sustainalytics to ensure the framework conforms with relevant regulations and is sufficiently robust in meeting NDB’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 its member states as well as 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.