The New Development Bank (NDB) has initiated a process of the leadership transition, which occurs in a mutually agreed manner and in accordance with the Bank’s governance and procedures.
NDB President Marcos Troyjo will step down by March 24, 2023. The Board of Governors of the New Development Bank will then elect a new President nominated by Brazil, to fulfil the incumbent rotating mandate expiring on July 6, 2025. After the election, the new President takes office.
Mr. Marcos Troyjo has served as the President of the NDB since July, 2020, and has been instrumental in the NDB’s success.
During President Troyjo’s tenure, NDB accomplished important milestones. He has driven the Bank’s initial membership expansion, strengthened the ESG (Environmental, social and governance) Department, and established the Independent Evaluation Office. He also led the moving-in of the Bank to its permanent Headquarters in Shanghai.
He worked towards devising and rolling out NDB’s second General Strategy (2022-2026) and to expand the Bank’s portfolio of project approvals, now amounting to approx. USD 32.8 billion since the institution’s start of operations in 2015. NDB today features almost 100 projects in member-countries — in sectors such as clean energy, transport infrastructure, irrigation, water resource management and sanitation, urban development, social infrastructure and environmental efficiency.
During Mr Troyjo’s presidency, NDB saw the completion of the USD 10 billion paid-in capital by its founding members. Under President Troyjo’s leadership, NDB also deepened its green credentials. In 2021, the Bank issued the first Sustainable Development Goals (SDG) bond in China in partnership with the United Nations Development Program (UNDP).
During his tenure, President Troyjo introduced a new organizational structure aimed at more complex and specialized private-sector operations, with a dedicated focus on project portfolio management. The role and independence of internal audit and compliance were enhanced, a Talent Management Division was established, and NDB’s Indian Regional Office was launched.
President Troyjo greatly enhanced NDB’s public profile through multiple interactions with development institutions, think-tanks, universities, research centers and conferences across member-countries and beyond.
He launched the NDB THINKLab initiative to promote regular engagements between the Bank’s team and some of the world’s most renowned thought leaders in development, economics and public policy.
President Troyjo’s passion for international cooperation and teamwork has added significant contributions in NDB’s journey towards becoming a premier development bank for emerging economies.
In line with the Bank’s procedures and high standards of governance, the election process for the position of the NDB President is being conducted in a smooth and orderly manner.
According to the Articles of Agreement of the New Development Bank, the NDB Board of Governors elects a President from one of the founding member countries on a rotational basis.