September 16, 2023; Jingzhou, Hubei – NDB President and Board Member, H.E. Mrs. Dilma Rousseff; Mr. Dondo Mogajane, Chairperson of the Board and Director for South Africa; Mr. Zhijun Cheng, Director for China; Ms. Thuraiya Alhashmi, Director for the constituency of Bangladesh, United Arab Emirates and Egypt, together with NDB Vice Presidents concluded the Bank’s first Board Project Site Visit in Hubei Province in China on September 15 and 16, 2023.
They visited the center for disease control, the public health center, the emergency medical supply warehouse and the emergency rescue center in Jingzhou, which were financed through NDB’s RMB 7 billion COVID-19 Emergency Assistance Loan. They also reaffirmed continued support towards financing sustainable and inclusive growth.
NDB’s support of RMB 7 billion helped in improving the resilience of the public health sector of China, particularly in strengthening the health emergency response system at the provincial and municipal levels in Hubei, Guangdong and Henan provinces, which were hit the hardest by the pandemic in early 2020. The financing was mobilized through the first-ever RMB-denominated Coronavirus Combating Bond of RMB 5 billion, which is in line with NDB’s priority of offering loans in the national currency of its member countries to safeguard them from fluctuation risks.
The COVID-19 Emergency Assistance Programme Loan to China approved by NDB on March 19, 2020, was the first of such Programme loan by any multilateral development bank in response to the COVID-19 pandemic to address the health and economic consequences of the outbreak. Preparation and approval of the Loan by NDB set a record in timeliness and speed of execution in responding to the needs of member countries.
“Our main goal is to make NDB a leading provider of financial resources for infrastructure, sustainable and inclusive development solutions for emerging markets and developing countries. NDB has been delivering programs and projects that improve opportunities and create solutions for the people with speed and efficiency. Today we are here to strengthen our relationship with these three provinces and municipalities responsible for implementing successful initiatives that support public health, research, and diagnosis. For us, these projects demonstrate how agile NDB can be in serving our member countries during their toughest times,” said H.E. Mrs. Dilma Rousseff, President of NDB.
During the visit in Hubei Province on September 15, President Rousseff, the Board of Directors, and Vice-Presidents met with Mr. Zhonglin Wang, Governor of Hubei Province. On September 16, 2023, they met with Mr. Jin Wu, Secretary of Jingzhou Municipal Party Committee and Ms. Zhihong Zhou, Mayor of Jingzhou. They reaffirmed NDB’s commitment towards financing sustainable, green and inclusive growth.
Apart from this loan focused on reducing the loss of human lives and improving resilience of the health sector, NDB also put together another financing package of RMB 7 billion for supporting China’s economic recovery from COVID-19. The economic recovery loan focused on reviving economic activities, resuming productivity in key sectors and generating employment opportunities in the near term.
In response to the COVID-19 pandemic, NDB has offered a cumulative package of US$ 10 billion to its member countries, which expanded their capacity to provide much needed support to people and economic development.
About NDB
The NDB was established in 2015 by Brazil, Russia, India, China, and South Africa to mobilise resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries. In 2021, NDB initiated membership expansion and admitted Bangladesh, Egypt, United Arab Emirates and Uruguay as its new member countries. As of December 31, 2022, the Bank’s portfolio stands at USD 30.2 billion for 85 projects across sectors such as clean energy, transport, water and sanitation, environmental protection, social, and digital infrastructure.
For more information on NDB, please visit www.ndb.int. For more information on NDB’s COVID-19 Response Programme, please visit: www.ndb.int/projects/covid-19-emergency-assistance-info-hub.