Governors’ Statements

Statement by the Deputy Minister for Foreign Trade and International Affairs of the Federative Republic of Brazil, Mr. Roberto Fendt Junior (Temporary Alternate Governor for Brazil)

    1. Ms. Chair and honorable Governors,

 

    1. I am very pleased to join you today at our Seventh Annual Meeting. This is also the first Annual Meeting with the presence of our esteemed colleagues from Bangladesh and the United Arab Emirates. I would like to take this opportunity to welcome you to the NDB.

 

    1. Since 2015, the New Development Bank has been building a consistent institutional, managerial and operational structure, with a growing portfolio of operations. This has enabled the Bank to strengthen its presence and accomplishments as a multilateral development bank focused on financing sustainable infrastructure and development.

 

    1. I would like to highlight some of the NDB’s prominent achievements during this first five-year-strategy cycle.

 

    1. I am glad that NDB has already incorporated four new members and is working on expanding its membership as a continued priority.

 

    1. In five-year time, NDB has established regional offices in all founding members. The consequence of the Bank’s presence was particularly remarkable in Brazil, which has increased its share on NDB’s operations, leading to a more balanced portfolio among members.

 

    1. The Bank has also dealt with challenging circumstances imposed by Covid-19 and succeeded in working quickly to implement the NDB Covid-19 Response Program to assist its members in such difficult times.

 

    1. For the coming years, we encourage NDB to develop innovative financing instruments and solutions for boosting the Bank’s role in promoting infrastructure and sustainable development in member countries and building up a platform for wider collaboration among emerging markets and developing countries.

 

    1. In order to provide an impetus to more green innovation, the development of customized investment solutions for mitigating climate and sustainability risks will be of paramount importance. We can recognize challenges ahead, as well as opportunities, for engagement with the private sector in mobilizing capital for long-term investments.

 

    1. When it comes to optimizing development impact, apart from essential operational measures to improve project quality, establish regular evaluations and adopt closer monitoring of projects, NDB should step forward supporting projects that help members fully achieve their climate and development goals.

 

    1. The new General Strategy materializes the Bank’s future efforts to respond to a range of challenges, including by offering diversified instruments, increasing operations with the private sector and expanding operations in local currency. Moreover, the Bank faces the challenge to contribute to the alignment of Bank’s operations with the goals of the Paris Agreement by supporting projects that reduce the trajectory of emissions and strengthen mitigation, adaptation and resilience in member countries.

 

    1. With regards to establishing NDB as a leading provider of development finance solutions for infrastructure and sustainable development, we believe that strengthening NDB’s role in resource mobilization is one of the key issues, in conjunction with increasing co-financing operations that scale up development impact.

 

    1. Finally, the NDB has a strong potential to become one of the most important sources of funding aimed at supporting sustainable infrastructure and development.

 

    1. We believe the NDB will take less than five years to prove us right.

 

Thank you.