On August 23, 2023, H.E. Mrs. Dilma Rousseff, the President of the New Development Bank (NDB), delivered her report to the Leaders of Brazil, Russia, India, China and South Africa at the 15th BRICS Summit, emphasizing the NDB’s role in supporting sustainable and inclusive development in the member countries of the Bank.
In her speech, President Dilma Rousseff highlighted the NDB’s mission to mobilize resources for investments in logistical, economic, and social development, promoting renewable and alternative energy sources, fight against climate change, and build connectivity with physical and digital infrastructure. She emphasized that the Bank’s priorities align with the priorities of its member countries, as NDB was created by and for developing nations.
“As President of the Bank, I am committed to ensuring that our work is done without imposing conditionalities linked to any public policy or private project. Our financial support is provided free of onerous conditions,” stressed Mrs. Dilma Rousseff.
“While, since its inception, the Bank has supported 98 investment projects, corresponding to approximately 33 billion dollars, now just for 2023 and 2024 we already have a pipeline of 76 projects, totalling 18.2 billion dollars,” she added.
President Rousseff expressed her optimism about the NDB, stating that the Bank is well-capitalized with low leverage, and is in a strong position to expand its role as a tool for carrying out sustainable development projects.
“Financing in local currencies is one of the NDB’s main goals, as it is clearly stated in the Bank’s General Strategy 2022-2026, which stipulates that 30% of all our financing will make use of the currencies of our member countries,” said President Rousseff.
The NDB’s General Strategy for 2022-2026 also focuses on another important priority, namely, the expansion of the Bank’s membership, highlighted Mrs. Dilma Rousseff.
“The inclusion of new members supports NDB’s vocation of functioning as a true platform for cooperation between the countries of the Global South, because this strengthens its capital base and incorporates a wider array of trade relations and of diverse development projects. This will enable the construction of a financial structure that bears the mark of multilateralism and a multipolar world. Multiple and diverse voices will be heard,” said President Rousseff.
Additionally, President Rousseff emphasized the NDB’s commitment to promoting social and gender inclusion and supporting projects capable of guaranteeing a range of opportunities, from promoting entrepreneurship to access to income, public services and quality jobs, particularly for women.
In conclusion, President Rousseff stressed that NDB will continue working closely with its member countries, identifying their significant needs, and focusing its support on projects that have the greatest additionality and impact.