On April 13, 2026, the New Development Bank (NDB) received a long-term credit rating of AAA with a Stable outlook from China Chengxin International Credit Rating (CCXI).
In its report, CCXI affirmed the strengths of the New Development Bank, including “a clearly defined strategic plan, a well-established risk management framework, good profitability, adequate capitalization, a very high level of current asset coverage over short-term debt, and smooth access to RMB financing channels, all of which effectively underpin the Bank’s overall credit standing.”
“Moreover, the contractual support and willingness to support from the Bank’s major member states are very strong, and the accession of new member countries will further enhance such support,” stated CCXI.
“Today marks yet another important milestone for the New Development Bank in strengthening its position as an impactful multilateral development bank. The AAA rating with a Stable outlook from CCXI is a strong validation of our sound operations and efficient financial management. The rating further strengthens the NDB’s ability to mobilize capital, especially in the Chinese market where we are already the largest Panda Bond issuer, on even more favourable terms. For our member countries, this means more cost-effective financing for infrastructure projects that will support economic development,” said Mr. Monale Ratsoma, Vice-President and Chief Financial Officer, NDB.
The full rating report, including the detailed rationale, has been published by CCXI on its official website at https://www.ccxi.com.cn/creditrating/result/InitialRating/detail/285547.
The document entitled “2026 Credit Rating Report for New Development Bank”, dated April 13, 2026, is entirely the copyright of, and is reproduced with the permission of CCXI.
Background information
The New Development Bank (NDB) is a multilateral development bank established by Brazil, Russia, India, China and South Africa (BRICS) with the purpose of mobilizing resources for infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs). In 2021, NDB welcomed its first non-founding members and continues to expand, positioning itself as a platform for wider collaboration amongst EMDCs. As of the end of 2025, NDB has approved USD 42.9 billion in financing for 139 projects across sectors such as clean energy, transport, water and sanitation, environmental protection, social and digital infrastructure. The Bank is rated AA+ by Standard & Poor’s, AA by Fitch Ratings, and AAA by Japan Credit Rating Agency and CCXI, all with stable outlooks. For more information, visit http://www.ndb.int.