Honourable Governors,
Distinguished Delegates,
NDB President, accompanied by the VPs
Ladies and Gentlemen,
Good morning to you all!
It is a privilege to join you at the 11th Annual Meeting of the Board of Governors of the New Development Bank. I extend my sincere appreciation to the Government of the Russian Federation for hosting us and for their warm hospitality.
We convene at a time of profound global transformation. The international community is navigating a complex landscape marked by economic uncertainty and rising cost of living . Shifting geopolitical dynamics and conflicts are intensifying along with and rapid technological change.
These developments underscore the urgency of strengthening multilateral cooperation and reaffirming our shared commitment to sustainable and inclusive development.
The theme of this Eleventh Annual Meeting is both timely and well chosen. Rapid technological change is fundamentally reshaping development finance, particularly through advances in digital finance, artificial intelligence, and data systems. These developments are transforming how resources are mobilised, allocated, monitored, and evaluated, and they call for a corresponding evolution in our development finance institutions.
As a Multilateral Development Bank, the NDB has a critical role to play in supporting developing countries as they navigate this digital transition. This includes financing digital infrastructure such as broadband networks and data centres, to help reduce the digital divide and strengthen economic resilience.
In this context, the Bank should continue to leverage blended finance approaches to crowd in private capital, including through the targeted use of de-risking instruments with a strong technological dimension. Such instruments can be particularly effective in mobilising private investment into high-impact, high-risk sectors. MDBs should also continue strengthening their investments in cybersecurity and data privacy to mitigate risks related to data breaches, fraud, and cyber threats.
As we look ahead, the role of the Bank becomes even more critical. There is a need to scale up financing for resilient infrastructure, support the green transition, and harness the opportunities presented by technological innovation. At the same time, we must ensure that development finance remains accessible, affordable, and aligned with the needs of all members.
In this regard, strengthening local currency financing, embracing innovative financing instruments, and expanding membership in a manner that preserves the Bank’s mandate, are critical next steps. So too will be safeguarding the institution’s financial integrity amidst the geographical realities, and enhancing partnerships with other multilateral and regional institutions. All of this will be key priorities for the Next 5 Year General Strategy.
Equally important is the need to reinforce governance, transparency, and operational efficiency, ensuring that the Bank continues to deliver impact at scale.
In closing, I wish the New Development Bank continued success in advancing sustainable development and improving the lives of our people.
I thank you.