Promoting Transparency and Enhancing Accountability
The Bank is committed to enhancing its accountability and it recognizes the importance of regular communications with stakeholders and information disclosure. Across its all operations, the New Development Bank (NDB) is guided by the principles of promoting transparency, enhancing accountability and protecting confidentiality, which is expressly stipulated in the Information Disclosure Policy (IDP). The NDB’s Articles of Agreement lay down the principles of transparency and accountability in the Bank’s operations. Based on these principles, the IDP, approved by NDB’s Board of Directors, provides a framework for engagement with stakeholders.
“The Bank shall ensure that its proceedings are transparent and shall elaborate in its own Rules of Procedure specific provisions regarding access to its documents.”
— Articles of Agreement
The NDB has disclosed online a set of policy documents, as specified by the IDP, with the objective of promoting transparency, accountability and integrity. Moreover, the Bank has established channels for information disclosure requests and comments on policy documents.submit a request for information
Engaging with Civil Society and Academia
The NDB continues to expand and deepen its interaction with all stakeholders, including representatives of civil society and academia.
The NDB is committed to strengthening its communication with civil society, which is conducted in various formats, including regular meetings between the Bank’s management with representatives of civil society organizations during annual meetings, BRICS summits and other events, public lectures and discussions, as well as expert group meetings.
Representatives of various CSOs operating in BRICS, at the NDB 4th Annual Meeting in Cape Town, South Africa.
NDB engages with stakeholders and welcomes inputs from civil society, which enable them to play an active and constructive role at the project level, in accordance with the Environmental and Social Framework of the Bank.
NDB has established global, regional and local partnerships with a number of development partners, who will contribute to the development of the Bank’s policies and operations.
The Bank engages with academia through its established partnerships with leading universities in member countries, and by means of high-impact events on topics of interest in the Bank’s areas of operation. Engagements with academics include calls for papers from BRICS experts on topics such as Fintech, hosting international conferences addressed by leading scholars, and inviting experts to present to NDB staff at in-house seminars, thus enhancing capacity building.
NDB invited esteemed academic Paul Romer, 2018 Nobel Laureate in Economic Sciences, to deliver the keynote address at the NDB 4th Annual Meeting. His keynote address placed an emphasis on job creation, over education to enhance development & economic growth.
The NDB encourages academic experts and the representatives of civil society organizations to share their opinions, research papers and other materials which may add value to the Bank and member countries development goals.