On June 29, 2022, the Board of Directors (Board) of the New Development Bank (NDB) held its 36th Meeting in a virtual format.
The Board approved the Bank’s new sovereign lending rates in USD and EUR. The Board was also updated on the implementation of funding programmes and the status of LIBOR-SOFR transition.
The Board discussed project pipeline and ongoing project implementation, disbursements and procurement.
The Board provided guidance on the Bank’s Evaluation Policy and approved the proposal of undertaking two project independent evaluations in the second half of 2022.
The Board was briefed on the progress of membership expansion and provided guidance for the next steps.
The 23rd meeting of the Audit, Risk and Compliance Committee and 19th meeting of the Budget, Human Resources and Compensation Committee were held on June 21 and 22, 2022 respectively.
Background Information
New Development Bank was established with the purpose of mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries, complementing the efforts of multilateral and regional financial institutions for global growth and development.