On September 23, 2022, the Board of Directors (Board) of the New Development Bank (NDB) held its 37th Meeting in a virtual format.
The Board reviewed the Bank’s ongoing projects’ implementation, disbursement and procurement as well as the project pipeline.
The Board was updated on the impact and implications of the market developments on NDB as well as the Bank’s recent fundraising activities.
Amendments to the Credit Risk Management Policy and the Internal Audit Policy were approved and the Board was briefed on the progress of membership expansion and provided guidance for the next steps.
The Board took note of the Progress Report on Implementation of the Independent Evaluation Office Roadmap and expressed appreciation for the timely activities and outputs to operationalise the Bank’s independent evaluation function.
The Board was briefed on the progress concerning the BRICS Integrated Digital Platform.
The 24th meeting of the Audit, Risk and Compliance Committee and 20th meeting of the Budget, Human Resources and Compensation Committee were held on September 13 and 15, 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.