NDB Board of Governors Approves the Bank’s Five-Year Strategy and Terms, Conditions and Procedures for the Admission of New Members
The Board of Governors (BoG) of the New Development Bank (NDB) approved today, in principle, the Bank’s General Strategy document for 2017-2021. Governors have also approved the document on Terms, Conditions and Procedures for the Admission of New Members.
The Strategy document will be further worked on, in order to incorporate some proposals made by Governors and is expected to be made public no later than 1 June 2017.
The document on Terms, Conditions and Procedures for the Admission of New Members will soon be made public on the Bank’s website. Governors have also decided that the criteria for expansion of membership will be worked out and finalized for approval by the BoG.
The New Development Bank was created with an objective of financing infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries. The Bank will complement the efforts of other financial institutions and establish a network of global, regional and local partnerships with multilateral and national development banks as well as other institutions and market players. The NDB intends to be fast, flexible and efficient, without sacrificing quality. The Bank will use various financial instruments to efficiently meet the demands of member states and clients.