NDB overview and recent achievements
The New Development Bank (NDB) is a multilateral development bank established by the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa (BRICS) in accordance with the Agreement on the New Development Bank signed on 15 July 2014.
The purpose of the NDB is to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries. For more detailed information about the projects financed by the NDB, please refer to the list of projects.
The NDB has been assigned a long-term issuer credit rating of “AA+” by S&P Global Ratings, Long-Term Issuer Default Rating (IDR) of “AA” by Fitch Ratings, and international credit ratings of “AAA” by Japan Credit Rating Agency (“JCR”) and Analytical Credit Rating Agency (“ACRA”), and domestic credit ratings of “AAA” by China Chengxin International Credit Rating Co. Ltd (“CCXI”) and China Lianhe Credit Rating Co., Ltd. (“Lianhe Ratings”).
Rating reports are available in Credit Ratings subsection.
The NDB has an initial authorized capital of USD 100 billion and initial subscribed capital of USD 50 billion of which USD 10 billion constitute paid in capital payable by the founding members in seven installments according to the schedule prescribed in the Agreement on the NDB. The initial subscribed capital is equally distributed amongst the founding members.
In July 2016, the NDB issued its debut bond in China. It was the first time that an international financial institution issued a green financial bond in the China Interbank Bond Market. The size of the issue is CNY 3 billion (USD 450 million). The bond has a 5-year tenor and nominal interest rate of 3.07%.
In February 2019, the NDB successfully placed CNY 3 billion bond in the China Interbank Bond Market under the debut Programme registered in January 2019. The bond was placed in two tranches with maturities of 3 years (CNY 2 billion) and 5 years (CNY 1 billion) with coupon rates of 3% and 3.32% respectively. The NDB became the first international issuer to establish an onshore RMB bond programme and to make offering under the Ministry of Finance and the People’s Bank of China new legislation (“Interim Measures for the Administration of Bond Issuance by Overseas Institutions in the National Interbank Bond Market under the People’s Bank of China and Ministry of Finance Announcement  No.16) issued on September 25, 2018.
In April 2019, the NDB established its ECP Programme for liquidity management purposes and registered its debut bond Programme in South Africa.
Highlights of borrowing activities of the Bank are available in Borrowings subsection.
In December 2018, the NDB received observer status in the UN General Assembly, establishing a firm basis for active and fruitful cooperation with the United Nations.
Joint Statement: Delivering on the 2030 Agenda
9 October 2016
Statement by the Heads of the African Development Bank, the Asian Development Bank, the Asian Infrastructure Investment Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the Inter-American Development Bank Group, the International Finance Corporation, the Islamic Development Bank, the New Development Bank, the World Bank, and the International Monetary Fund
NDB President Reported on the Bank's Progress to BRICS Leaders at Summit in Goa
16 October 2016
The President of the New Development Bank Mr.K.V.Kamath met today with the Leaders of Brazil, Russia, India, China and South Africa during the BRICS Summit in Goa, India. Mr.K.V.Kamath delivered an update on the progress of the NDB and obtained valuable guidance from them.
“We had a very good briefing to the Leaders of the BRICS countries. Essentially, it was our report on the first …more
NDB Board of Directors Approves Loans for Two Projects in China and India During 7th Meeting in Shanghai
22 November 2016
The New Development Bank (NDB) announced today that its Board of Directors (BoD) has approved two loans for projects in China and India – Putian Pinghai Bay Offshore Wind Power Project (RMB 2 bln) and Madhya Pradesh Major District Roads Project (USD 350 mln). The appraised projects were presented at the seventh BoD Meeting held in Shanghai.
Mr. K. V. Kamath, the President of the Bank, …more