Annual Report 2025

REFLECTING ON
THE FIRST
GOLDEN DECADE:
PREPARING
FOR THE FUTURE

ANNUAL REPORT 2025

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MESSAGE FROM
THE PRESIDENT

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NDB IN NUMBERS

19

PROJECTS
APPROVED
IN 2025
USD

3,171

MILLION

AMOUNT OF
FINANCING APPROVED
IN 2025
115

PROJECTS IN THE
PORTFOLIO AT THE END
OF 2025
USD

35,593

MILLION

AMOUNT OF FINANCING
APPROVED FOR
PROJECTS IN THE
PORTFOLIO AT THE END OF 2025

APPROVALS BY TYPE OF OPERATION

Approvals within the year ended
December 31, 2025

Approvals for projects in the portfolio
as at December 31, 2025

SOVEREIGN LOANS
NON-SOVEREIGN LOANS
EQUITY INVESTMENTS

APPROVALS BY AREA OF OPERATION

Approvals within the year ended
December 31, 2025

Approvals for projects in the portfolio
as at December 31, 2025

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, 2025
From projects in the portfolio as at December 31, 2025

Renewable and clean
energy generation
capacity to be installed

2,200MW

4,400
MW
CO₂ emissions
to be avoided

17.6 million
tonnes/year

32.2 million
tonnes/year
Roads and bridges
to be built or upgraded

150km

32,400km
Drinking water supply
capacity to be increased

444,000
m³/day

664,000
m³/day
Air passenger handling
capacity
to be increased

104million/year
Air cargo handling
capacity to be
increased

960,000
tonnes/
year
Water tunnel/canal
infrastructure
to be built or upgraded

1,400km
Sewage treatment
capacity to be increased

143,000
m³/day

721,000
m³/day
Urban rail transit
network to be built

293km
Schools
to be built
or upgraded

15
Housing
units to be
constructed

35,000

NDB’S FIRSTGOLDEN DECADE

KEY MILESTONES OF NDB

2014

July

The Agreement on the New Development Bank was signed at the sixth BRICS summit in Fortaleza, Brazil.

2015

July

NDB was established pursuant to the Agreement on the New Development Bank, with headquarters in Shanghai, China. Mr. K.V. Kamath was appointed as the first President.

2016

JANUARY

The first instalment of paid-in capital was received from all founding members.

2016

APRIL

The BoD approved the first set of loans, to Brazil, China, South Africa, and India.

2016

July

The Bank issued its first-ever bond, a green bond, in the China’s Interbank Bond Market.

2017

JUNE

The BoG approved NDB’s General Strategy for
2017–2021.

2017

AUGUST

The Bank’s first regional office, the Africa Regional Centre, opened in Johannesburg, South Africa.

2018

AUGUST

NDB received AA+ credit ratings from Fitch Ratings and S&P Global Ratings, cementing its access to international capital markets.

2018

DECEMBER

NDB was granted observer status at the United Nations General Assembly.

2019

JULY

Americas Regional Office opened in São Paulo, with a sub-office in Brasília, Brazil.

2020

MARCH

NDB approved its first
COVID-19 emergency assistance loan to China, becoming the first MDB to extend
COVID-19 response support to its members.

This was followed by the establishment of an Emergency Assistance Response Facility and subsequent support to India, South Africa, Brazil and Russia.

2020

APRIL

The Bank issued its first COVID Response Bond.

2020

JULY

Eurasian Regional Centre opened in Moscow, Russia.

2021

MARCH

NDB issued a RMB 5 billion SDG bond, the first bond aligned with the UNDP SDG Impact Standards for Bonds and the China SDG Finance Taxonomy.

2021

SEPTEMBER

Bangladesh joined as a member.

NDB started operating from its permanent headquarters building in Shanghai.

2021

OCTOBER

UAE joined NDB as a member.

2022

MAY

The BoG approved NDB’s General Strategy for
2022–2026.

2022

JUNE

NDB’s fourth regional office was opened in Gujarat International Finance Tec-City (GIFT City), India.

2023

FEBRUARY

Egypt joined NDB as a member.

2023

MARCH

The BoG elected Mrs. Dilma Rousseff as the President of NDB.

2023

APRIL

President Luiz Inácio Lula Da Silva of the Federative Republic of Brazil, visited NDB headquarters in Shanghai, first visit by a head of state to the Bank.