Ahmedabad, India, January 12, 2024 –NDB Vice President and Chief Operations Officer, Vladimir Kazbekov, concluded a four-day visit to India, to deepen partnership opportunities in various sectors of mutual interest, including renewable energy, transportation, water and sanitation, and social and digital infrastructure. He also participated in the 10th edition of the Vibrant Gujarat Summit and spoke about resilient supply chains and smart logistics at the PM Gatishakti panel.
During the visit, Mr. Kazbekov engaged in high-level discussions with key government officials, including Mr. Bhupendra Patel, Chief Minister of Gujarat; Mr. Ajay Seth, Secretary, Department of Economic Affairs, GoI andMr. Dammu Ravi, Secretary, Economic Relations, Ministry of External Affairs, GoI. He discussed the Bank’s ongoing projects in India, investment plans for 2024 and signed three loan agreements amounting to nearly US $700 million to develop rural roads in Gujarat, rejuvenate Manipur’s Lamphelpat water body and develop an integrated sewage system in the capital city of Imphal (details below).
NDB VP & COO also met with prominent business leaders and representatives from the private sector to explore avenues for collaboration and identify opportunities for private sector involvement in India’s development agenda.
“India, as one of the world’s fastest-growing economies, faces various development challenges. NDB has been working closely with the Indian Government to address these challenges and promote inclusive and sustainable development through financing, technical expertise, and knowledge sharing. We remain committed to supporting India’s development goals and look forward to deepening our engagement in the country,” said Mr. Kazbekov. Mr. Kazbekov also mentioned that the Vibrant Gujarat Summit is an excellent platform that provides an opportunity to interact with global leaders and deliberate on strategies for achieving SDGs.
NDB, founded by Brazil, Russia, India, China, and South Africa in 2015, has been actively working with the Indian Government to address development challenges and promote inclusive and sustainable development The Bank has extended significant support to India, including financing landmark projects such as the Delhi-Meerut-Ghaziabad regional rapid transit system, metro system expansions, clean water and sanitation infrastructure development, eco-tourism projects, and emergency loan programs for inclusive economic recovery from the COVID-19 pandemic.
The partnership between India and NDB exemplifies a shared commitment to advancing sustainable development, fostering economic growth, and improving the lives of millions of people in India through inclusive and green infrastructure.
Loan of USD 500 million to develop 13,500 kilometers of rural roads in Gujarat, benefitting 12.5 million people.
NDB signed a loan agreement of USD 500 million with the Republic of India for the Gujarat Rural Road Program. The loan documentation for the project was signed in record time within two months after receiving Board approval, demonstrating NDB’s commitment to speed of execution. This significant investment will have a transformative impact by developing 13,500 kilometers of rural roads in Gujarat, benefiting approximately 12.5 million people. The program aims to enhance rural connectivity, providing easier access to markets, healthcare facilities, and educational centers in Gujarat. In addition to road infrastructure construction, the program will prioritize digital transformation, capacity building, technical design, and research, ensuring sustainable and long-term positive outcomes. The Gujarat Rural Road Program aligns with NDB’s General Strategy and supports Sustainable Development Goal 9, which emphasizes resilient infrastructure development, sustainable industrialization, and innovation.
Loan of USD 115 million for an Integrated Sewerage System for the city of Imphal, Manipur, to provide better sanitation services to all the households and improve water quality of Imphal river.
NDB signed a loan agreement of of USD 115 million with the Republic of India for the development of an Integrated Sewerage System for the city of Imphal, Manipur. This project aims to enhance sanitation services and improve water quality in the Imphal river by constructing 3 sewerage treatment plants, 21 sewerage pumping stations, and a 297-kilometer network of sewer pipelines. The Integrated Sewerage System for the city of Imphal Project is a key priority for the Government of Manipur as it contributes to sustainable urban development in Imphal. The project aligns with NDB’s mandate to finance infrastructure and sustainable development projects, as outlined in its General Strategy. It also supports the Government of India’s initiatives to promote access to sanitation, urban development, and the development of the country’s north-east region. It seeks to contribute to United Nations SDG 6 Clean Water and Sanitation and SDG 3 Good Health and Wellbeing.
Loan of USD 70 million for Lamphelpat Waterbody Rejuvenation Project to prevent urban flooding.
NDB has signed a loan agreement of USD 70.27 million with the Republic of India for the rejuvenation of the Lamphelpat waterbody and its surrounding areas in Imphal, the capital city of Manipur. This project aims to prevent urban flooding, improve water security, and promote eco-tourism. The Lamphelpat Waterbody Rejuvenation Project is a key priority for the Government of Manipur, as it plays a vital role in enabling sustainable urban development in Imphal. The project aligns with NDB’s mandate to finance infrastructure and sustainable development projects, as outlined in its General Strategy. It also supports the Government of India’s initiatives to promote urban development, water resource management, and the development of the country’s north-east region. The project has multiple benefits, including preventing urban flooding, utilizing the Lamphelpat waterbody as an additional source of drinking water to improve water security, and promoting eco-tourism in the area. Additionally, it contributes to India’s Nationally Determined Contributions under the Paris Agreement, specifically in the adaptation component. The project seeks to contribute to United Nations SDG 13 Climate Action, SDG 11 Sustainable Cities and Communities, and SDG 6 Clean Water and Sanitation
About New Development Bank
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. The Bank has approved 106 projects globally amounting to USD 34 billion in financing 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.
NDB’s India Regional Office
In 2022, NDB operationalised its Indian Regional Office (IRO) in Gujarat International Finance Tec-City (GIFT City). The IRO works closely with the Government of India, public and private sector agencies, and other relevant stakeholders to identify projects that have strong development impact, and which are aligned with the national development priorities.