On April 25, 2023, the Board of Directors (Board) of the New Development Bank (NDB) held its 39th Meeting, returning to the in-person format. This was the first time for the Board to hold its meeting at the Bank’s new Headquarters in Shanghai, China.
During the meeting, the Board considered the implementation, disbursements and procurement of the Bank’s projects. Updates on the Bank’s project pipeline were provided to the Board.
The Board was also updated on the LIBOR transition progress, treasury investments and funding activities, including the recent bond issuance in the amount of USD 1.25 billion.
The Board approved the revised policies concerning exchange rate risk management, interest rate risk management, operational risk management, business continuity management, accounting and measurement and budgeting. The Board also approved the revised Enterprise Risk Management and Risk Appetite Framework.
A progress report on the key priorities for setting up the Independent Evaluation Office of the Bank was provided to the Board. The Board approved the Concept Note on Evaluation Capacity Development, nominations for the NDB’s High Level Evaluation Advisory Committee and the Project Completion Report validation methodology and process.
The Board also took note of the implementation of the General Strategy for 2022-2026 and provided guidance.
The Board welcomed that the Eighth Annual Meeting of the Board of Governors of the New Development Bank will be held physically in Shanghai at the Bank’s Headquarters on May 30, 2023, followed by side events on May 31, 2023.
On April 24, 2023, the 26th Meeting of the Audit, Risk and Compliance Committee and the 22nd Meeting of the Budget, Human Resources and Compensation Committee were held at the NDB Headquarters.