On November 17, 2025, the New Development Bank’s (NDB) Euro Medium Term Note Programme (EMTN Programme) was officially listed on the Nasdaq Dubai Exchange in the United Arab Emirates. Additionally, the securities to be issued under the EMTN Programme were included in the Official List of Securities of the Dubai Financial Services Authority (DFSA).
The NDB currently has a USD 50 billion EMTN Programme listed on the official register of the Financial Conduct Authority (FCA) and on the London Stock Exchange. The Programme is rated “AA” by Fitch and “AA+” by S&P.
The multi-listing of the EMTN Programme on the London Stock Exchange and Nasdaq Dubai Exchange reflects NDB’s strategic focus on diversification and on strengthening its presence across international financial centers, including those in its member countries. Accessing global and regional investors enhances the Bank’s ability to issue bonds in local currencies, which also aligns with its objective of supporting the development of local capital markets.
“Listing in Nasdaq Dubai is a milestone for the New Development Bank. The listing on the Nasdaq Dubai Exchange provides NDB with access to a deep and diverse investor base, enabling the Bank to mobilize long-term capital for infrastructure and sustainable development projects in our member countries. Furthermore, it aligns with the Bank’s strategy to diversify funding sources across different markets and investor bases,” said Mr. Monale Ratsoma, Vice-President and Chief Financial Officer of the NDB.
Background Information
The New Development Bank was established in 2015 by Brazil, Russia, India, China, and South Africa to mobilize resources for infrastructure and sustainable development projects in the BRICS and other emerging market and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development.
NDB has been rated “AA+” with a stable outlook by Standard and Poor’s Global Ratings, “AA” with a stable outlook by Fitch Ratings Inc., and “AAA” with a stable outlook by Japan Credit Rating Agency, Ltd.