NDB’s Board of Directors held its 42nd meeting in Dubai, United Arab Emirates. This was the first time the Board convened in a non-founding member country of the Bank, demonstrating NDB’s role as a platform for wider collaboration among emerging markets and developing countries. Among other agenda items, the Board approved three projects totalling nearly USD 1.2 billion to finance rural roads in India and NDB’s first non-sovereign loan in China to develop sustainable infrastructure. The projects are aligned with NDB’s General Strategy 2022-2026 and contribute to several Sustainable Development Goals, particularly SDG 9 on developing quality, reliable, sustainable and resilient infrastructure.
USD 500 million to the Republic of India to enhance rural connectivity for nearly 4,900 villages, directly benefitting 12.65 million in the state of Gujarat.
USD 638.12 million to the Republic of India to provide first-time road connectivity to around 2.25 million people. In 2018, NDB had committed USD 350 million to develop 4,000 kilometers of rural roads in Bihar.
USD 50 million (RMB equivalent) to Bank of Huzhou for enabling financing to local companies for projects such as rooftop solar power, smart parking, reservoir renovation, etc. This is NDB’s first non-sovereign loan in China.