President, Vice Presidents of New Development Bank to Take Part in BRICS Summit in Goa, India
The New Development Bank has announced today that it will participate in the 8th BRICS Summit in Goa, India. At the Summit and its sideline events, the NDB will be represented by the NDB President Mr. K.V.Kamath, the NDB VP, CRO Mr. Paulo Nogueira Batista Jr., the NDB VP, CAO Mr. Vladimir Kazbekov, the NDB VP, COO Mr. Xian Zhu, the NDB VP, CFO Mr. Leslie Maasdorp.
The NDB management’s programme starts today with two keynote speeches by Mr. Paulo Nogueira Batista Jr. at BRICS Economic Forum.
On 15 October 2016, Mr. K.V.Kamath will participate in BRICS Financial Forum and deliver a keynote address.
On 16 October 2016, Mr. K.V.Kamath is expected to meet BRICS Leaders, deliver an update on the progress of the NDB and obtain valuable guidance from them.
On the same date, the Bank is also planning to sign a Memorandum of Understanding with BRICS BRICS interbank cooperation mechanism.
During their visit, the members of the NDB management are expected to have meetings with high-ranking officials, business leaders as well as speak to members of the press.
BRICS brings together Brazil, Russia, India and South Africa – five major emerging economies, comprising 43% of the world population, having 30% of the world GDP and 17% share in the world trade.
The New Development Bank was created with a vision to support and foster infrastructure and sustainable development initiatives in emerging economies. The Bank will complement the efforts of other existing financial institutions to realize the common goal of global growth. The founding members of the NDB – Brazil, Russia, India, China and South Africa (BRICS) – have paid in capital of USD 1.5 billion thus far as capital contributions. With the signing of the Headquarters Agreement with the Government of the People’s Republic of China in February 2016, the Bank became fully operational.