NDB President Meets Brazil’s Minister of Foreign Relations in Shanghai
On 21 May 2018, Mr. K.V. Kamath, the NDB President met Mr. Aloysio Nunes Ferreira, the Minister of Foreign Relations of the Federative Republic of Brazil in the NDB Office in Shanghai.
During the meeting, the NDB President provided an update on the Bank’s operations and its plans for 2018-2019, including the opening of Americas Regional Office (ARO) in Brazil. Current and potential projects in Brazil were discussed.
Americas Regional Office will increase operational capabilities of the NDB and facilitate identification and preparation of bankable projects in Brazil. Together with the Africa Regional Center opened in Johannesburg, South Africa, the ARO will progressively support a growing range of the Bank’s operations.
“NDB has a highly professional team. The bank knows the needs and challenges of emerging and developing economies. Brazil’s aim to working closely and in cooperation with the bank is very strong. In the same way, we are confident on NDB’s resolve to support projects beneficial for the Brazilian people”, minister Aloysio Nunes Ferreira underlined.
The New Development Bank is a multilateral development bank established by Brazil, Russia, India, China and South Africa in 2014. The Bank is mandated to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, complementing the efforts of multilateral and regional financial institutions for global growth and development.