On April 7, 2025, the New Development Bank (NDB) and the National Bank for Financing Infrastructure and Development (NaBFID), one of India’s premier development financial institutions (DFI), signed in Mumbai a Memorandum of Understanding (MoU) to establish a strategic framework for cooperation in areas of mutual interest, including infrastructure and sustainable development projects.
This collaboration will facilitate joint infrastructure investments in India and create a framework for the exchange of technical knowledge.
NaBFID aims to work with NDB on clean energy and transportation projects, including renewable energy initiatives and sustainable water and sewage management, among others. The MoU also lays the foundation for both organisations to participate in infrastructure projects through thematic-level collaborations within their respective mandates.
Additionally, NDB and NaBFID will partner in research and capacity-building initiatives, including seminars and workshops, to promote knowledge sharing and enhance institutional capabilities.
NDB has approved nearly USD 10 billion in loans for 28 major infrastructure projects in India, including the Chennai, Indore, and Mumbai metro systems, the Delhi-Ghaziabad-Meerut Regional Rapid Transit System, and the Namo Bharat high-speed trains. Additionally, this funding supports the development of urban and rural roads, bridges and highways; water and sanitation; clean energy and USD 2 billion for COVID-19 emergency aid and economic recovery.
Mr. Vladimir Kazbekov, Vice President and Chief Operating Officer, NDB, said, “We are delighted to partner with NaBFID to drive India’s infrastructure and social sector development. We are proud of the activities we have undertaken in our founding member country generating a robust USD 10 billion portfolio in a short time span. This MoU reflects our shared vision of fostering economic growth while promoting sustainable and inclusive development.”
Commenting on the partnership, Mr. Rajkiran Rai G., Managing Director, NaBFID, said, “This collaboration with NDB marks a significant step in our commitment to nation-building and sustainable development. This MoU will help NaBFID accelerate infrastructure financing in clean energy and social impact projects, creating long-term value for all stakeholders.”
About NDB
The New Development Bank (NDB) is a multilateral development bank established by Brazil, Russia, India, China and South Africa (BRICS) with the purpose of mobilising resources for infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs). In 2021, NDB welcomed its first non-founding members and continues to expand, positioning itself as a platform for wider collaboration amongst EMDCs. Since 2015, NDB has committed USD 35.6 billion in financing for 108 projects across sectors such as clean energy, transport, water and sanitation, environmental protection, social and digital infrastructure.
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About NaBFID
National Bank for Financing Infrastructure Development (NaBFID) is a Development Financial Institution (DFI) established in April 2021. NaBFID is dedicated to accelerating the development of India’s infrastructure ecosystem by addressing the long-term financing needs of the sector. NaBFID plays a pivotal role in driving the nation’s economic growth and fostering sustainable development.
NaBFID is committed towards its vision of becoming a strong provider of impact investment, catalysing infrastructure funding for transformative growth of India.
NaBFID aims to be a key partner in helping India achieve its ambitious infrastructure development objectives – responsibly and sustainably. Additionally, NaBFID will work towards developing a deep and liquid market for bonds, loans, and derivatives for infrastructure financing.