Annual Report 2024

INVESTING
IN A
SUSTAINABLE FUTURE

ANNUAL REPORT 2024

MESSAGE FROM
THE PRESIDENT

As the world continues to change, NDB remains steadfast in its conviction that sustainable development, inclusive growth, and multilateral cooperation are not just goals — but shared responsibilities.


Dilma Rousseff

President of NDB

NDB IN NUMBERS

  • 15
    PROJECTS APPROVED

    IN 2024
  • USD
    4,511
    MILLION
    AMOUNT OF FINANCING

    APPROVED IN 2024
  • 105
    PROJECTS IN THE
    PORTFOLIO
    AT
    THE END OF 2024
  • USD
    35,152
    MILLION
    AMOUNT OF FINANCING
    APPROVED
    FOR PROJECTS
    IN THE PORTFOLIO

    AT THE END OF 2024

Approvals by type of operation

Approvals within the year ended
December 31, 2024

Approvals for projects in the portfolio
as at December 31, 2024

  • SOVEREIGN LOANS
  • NON-SOVEREIGN LOANS
  • EQUITY INVESTMENTS

Approvals by AREA OF OPERATION

Approvals within the year ended
December 31, 2024

Approvals for projects in the portfolio
as at December 31, 2024

  • CLEAN ENERGY AND
    ENERGY EFFICIENCY

  • WATER AND
    SANITATION

  • SOCIAL
    INFRASTRUCTURE

  • MULTIPLE AREAS

  • TRANSPORT
    INFRASTRUCTURE

  • ENVIRONMENTAL
    PROTECTION

  • DIGITAL
    INFRASTRUCTURE

  • COVID-19 EMERGENCY
    ASSISTANCE

Highlights of expected
development results
of selected projects
financed by NDB

  • From projects approved within the year ended December 31, 2024
  • From projects in the portfolio as at December 31, 2024
  • Renewable and clean energy generation capacity to be installed
    400MW
    2,400
    MW
  • CO2 emissions to be avoided
    1.6million tonnes/year
    14.7
    million tonnes/year
  • Roads and bridges to be built or upgraded
    920km
    40,000
    km
  • Air passenger
    handling capacity
    to be increased
    104million/year
  • Drinking water supply capacity to be increased
    79,500m3/day
    289,000m3/day
  • Sewage treatment capacity to be increased
    34,600m3/day
    612,000m3/day
  • Air cargo handling
    capacity to be
    increased
    960,000tonnes/year
  • Water tunnel/canal
    infrastructure to be
    built or upgraded
    1,400km
  • Urban rail
    transit network
    to be built
    293km
  • Schools to be built
    or upgraded
    43
  • Housing units to be constructed
    35,000

KEY EVENTS IN 2024

NDB Seminar in Egypt

Following Egypt’s accession to the Bank in 2023, NDB and the Ministry of International Cooperation of Egypt co-hosted a seminar in June 2024 in Cairo. The event, themed “Navigating New Horizons”, aimed to deepen understanding and forge partnerships between NDB and development partners in Egypt, with a view to exploring and creating collaboration opportunities in the Bank’s newest member.

JUNE 11–12, 2024

CAIRO, EGYPT

The Ninth Annual Meeting of NDB’s Board of Governors

Under the theme of “Investing in a Sustainable Future”, the Ninth Annual Meeting of NDB’s BoG was held from August 29 to 31, 2024, in Cape Town, South Africa. Marking a decade since the signing of the Agreement on NDB by the founding members in 2014, the annual meeting served as a critical platform for fostering dialogues on how NDB can better address the challenges facing EMDCs by investing in sustainable development.

AUGUST 29–31, 2024

CAPE TOWN, SOUTH AFRICA

NDB’s Participation in the 16th BRICS Summit

In October 2024, NDB participated in the 16th BRICS Summit in Kazan, Russia, held under the theme of “Strengthening Multilateralism for Fair Global Development and Security”. This summit marked the first participation of Egypt, Ethiopia, Iran and UAE as full members of BRICS. The three-day event offered a great opportunity for NDB to deepen its dialogue and cooperation with the BRICS countries and other EMDCs.

OCTOBER 22–24, 2024

KAZAN, RUSSIA

NDB at COP29

In November 2024, NDB participated in the 29th Conference of the Parties (COP29) of the United Nations Framework Convention on Climate Change (UNFCCC), which was held in Baku, Azerbaijan, under the theme “In Solidarity for a Green World”. COP29 marked NDB’s debut participation in the annual event as an observer organisation of UNFCCC. In line with its commitment to tackle climate challenges, NDB contributed to the global effort aimed at enhancing climate ambitions and enabling actions of various stakeholders, which constituted two mutually reinforcing pillars of the COP29 Presidency’s agenda.

NOVEMBER 11–22, 2024

BAKU, AZERBAIJAN

Operations Approved
in 2024

South Africa Freight Rail Sector Improvement Programme

In January 2024, NDB approved a sovereign-guaranteed loan of ZAR 18.5 billion to Transnet to restore capacity and improve the sustainability of the freight rail system in South Africa to meet traffic demand.

  • Borrower
    Transnet SOC Ltd.
  • Loan amount
    ZAR 18.5 billion
  • Loan tenor
    25 years
  • Approval date
    January 3, 2024
  • Area of operation
    Transport Infrastructure
  • E&S category
    Category B
  • SDG alignment

Assam Bridge-II Project

In April 2024, NDB approved a sovereign loan of USD 333.8 million to finance the construction of the second new bridge over the Brahmaputra River in Guwahati, India, to improve connectivity and ease traffic.

  • Borrower
    The Republic of India
  • Loan amount
    USD 333.8 million
  • Loan tenor
    24 years
  • Approval date
    April 1, 2024
  • Area of operation
    Transport Infrastructure
  • E&S category
    Category A
  • SDG alignment

Paraíba Water Supply Infrastructure Project

In July 2024, NDB approved a sovereign-guaranteed loan of up to USD 60.95 million to finance water supply infrastructure in 16 municipalities in the Agreste and Sertão regions of Paraibano in Brazil and benefit over 120,000 residents, who currently lack access to piped water for more than half of the year.

  • Borrower
    The State of Paraíba
  • Loan amount
    USD 60.95 million
  • Loan tenor
    20 years
  • Approval date
    July 10, 2024
  • Area of operation
    Water and Sanitation
  • E&S category
    Category B
  • SDG alignment

Serra Urban Mobility Improvement Project

In July 2024, NDB approved a sovereign-guaranteed loan of USD 57.6 million key interventions to decongest the urban road network in the municipality of Serra in Brazil and improve urban mobility and road safety.

  • Borrower
    The Municipality of Serra
  • Loan amount
    USD 57.6 million
  • Loan tenor
    18 years
  • Approval date
    July 10, 2024
  • Area of operation
    Transport Infrastructure
  • E&S category
    Category B
  • SDG alignment

Municipal Water Supply and Sanitation Programme in South Africa

In August 2024, NDB approved a sovereign loan of USD 1 billion to finance water and sanitation infrastructure in more than 200 municipalities, benefiting around 138,000 households with improved access to basic water supply and 212,000 households with improved access to basic sanitation facilities.

  • Borrower
    The Republic of South Africa
  • Loan amount
    USD 1 billion
  • Loan tenor
    15 years
  • Approval date
    August 29, 2024
  • Area of operation
    Water and Sanitation
  • E&S category
    Category B
  • SDG alignment

BoCom Financial Leasing LNG Transportation Project

In August 2024, NDB approved an RMB-denominated loan equivalent to USD 150 million to BCFL for the acquisition of at least three large-scale LNG carriers, boosting LNG transportation capacity, reducing coal use and ensuring the security of energy supply in China.

  • Borrower
    Bank of Communications
    Financial Leasing Co., Ltd. (BCFL)
  • Loan amount
    USD 150 million equivalent in RMB
  • Loan tenor
    5 years
  • Approval date
    August 29, 2024
  • Area of operation
    Transport Infrastructure
  • E&S category
    Category FI-B
  • SDG alignment

Electricity Distribution Infrastructure Modernisation Project

In October 2024, NDB approved a non-sovereign loan of RMB 1,425 million to support the implementation of CPFL Paulista's power distribution networks in São Paulo, Brazil, providing electricity access to 370,000 underserved households. This marked the Bank's first RMB-denominated loan to a project outside China.

  • Borrower
    Companhia Paulista de Força
    e Luz (CPFL Paulista)
  • Loan amount
    RMB 1,425 million
  • Loan tenor
    6 years
  • Approval date
    October 23, 2024
  • Area of operation
    Clean Energy and Energy Efficiency
  • E&S category
    Category B
  • SDG alignment

Liaoning Industry Upgradation, Infrastructure and Environmentally Sustainable Development Project

In October 2024, NDB approved a sovereign loan of RMB 1.46 billion to support the sustainable urban development of two pilot cities in Liaoning province in China, namely Anshan and Lingyuan, to transform these cities from old industrial bases into new urban agglomerations and improve their liveability.

  • Borrower
    The People’s Republic of China
  • Loan amount
    RMB 1,460 million
  • Loan tenor
    30 years
  • Approval date
    October 24, 2024
  • Area of operation
    Multiple Areas
  • E&S category
    Category A
  • SDG alignment

Haitong Leasing Environmental Protection Project

In November 2024, NDB approved a loan equivalent to USD 100 million in RMB to HUIFL to lease environmental protection equipment in less-developed regions of China. To mobilise additional capital, NDB played a proactive role in crowding in other financiers through a loan syndication of RMB 1.2 billion, establishing itself as a trusted broker in financial markets.

  • Borrower
    Haitong Unitrust International Financial Leasing Co., Ltd. (HUIFL)
  • Loan amount
    USD 100 million equivalent in RMB
  • Loan tenor
    5 years
  • Approval date
    November 28, 2024
  • Area of operation
    Environmental Protection
  • E&S category
    Category FI-A
  • SDG alignment

Middle Reaches of the Yangtze River (Wuhan) Smart Logistics Hub Project

In December 2024, NDB approved a sovereign loan of RMB 2,415 million to support the development of a smart logistics hub at Wuhan's Beihu Industrial Park in China to enhance logistics efficiency of chemical enterprises through improved transport infrastructure.

  • Borrower
    The People’s Republic of China
  • Loan amount
    RMB 2,415 million
  • Loan tenor
    30 years
  • Approval date
    December 7, 2024
  • Area of operation
    Transport Infrastructure
  • E&S category
    Category A
  • SDG alignment

Madhya Pradesh State Highways Improvement Project

In December 2024, NDB approved a sovereign loan of USD 490 million to widen and reconstruct over 870 km of state highways in Madhya Pradesh, India. The project will enhance connectivity and road safety for 12 million rural residents and connect them to more than 650 social, economic and educational centers.

  • Borrower
    The Republic of India
  • Loan amount
    USD 490 million
  • Loan tenor
    24 years
  • Approval date
    December 19, 2024
  • Area of operation
    Transport Infrastructure
  • E&S category
    Category A
  • SDG alignment

Brasília Capital of Solar Lighting Project

In December 2024, NDB approved a sovereign-guaranteed loan of up to EUR 94 million to Companhia Energética de Brasília to enhance the sustainability and resilience of the Federal District's public lighting system.

  • Borrower
    Companhia Energética de Brasília
  • Loan amount
    EUR 94 million
  • Loan tenor
    20 years
  • Approval date
    December 26, 2024
  • Area of operation
    Clean Energy and Energy Efficiency
  • E&S category
    Category B
  • SDG alignment

SAEL 300 MW Renewable Energy Project

In December 2024, NDB approved a non-sovereign loan of USD 63 million to finance the design, development, construction, maintenance and operation of a 300 MW solar photovoltaic power plant in the Indian state of Andhra Pradesh. This operation marks NDB's inaugural project finance transaction.

  • Borrower
    SAEL Solar MHP1 Private Limited
  • Loan amount
    USD 63 million
  • Loan tenor
    18 years
  • Approval date
    December 27, 2024
  • Area of operation
    Clean Energy and Energy Efficiency
  • E&S category
    Category B
  • SDG alignment

Shriram Finance Sustainable Transport Project

In December 2024, NDB approved a non-sovereign loan of USD 125 million to Shriram Finance Limited to expand lending to individual driver-turned-owners, first-time borrowers and MSMEs to acquire low-emission and energy-efficient vehicles, contributing to cleaner transport in India.

  • Borrower
    Shriram Finance Limited
  • Loan amount
    USD 125 million
  • Loan tenor
    5 years
  • Approval date
    December 29, 2024
  • Area of operation
    Transport Infrastructure
  • E&S category
    Category FI-C
  • SDG alignment

Downloads

  • 01
    NDB Annual
    Report 2024
    (Full version)
  • 02
    NDB Annual
    Financial
    Statements
  • 03
    NDB-PPF
    Annual Financial
    Statements
  • 04
    NDB in Numbers
    (Data)
  • 05
    The Evolution of
    NDB’s Portfolio
    (Data)