Statements by Mr. Roberto Fendt Junior, Deputy Minister for Foreign Trade and International Affairs of the Ministry of Economy of Brazil, Temporary Alternate Governor for Brazil
At the Sixth Annual Meeting of the Board of Governors of the New Development Bank, 30 March 2021
- Thank you, Chair!
- Over the past five years, NDB gained relevance and scale. We have witnessed the NDB’s consolidation and transformation into a strategic development partner for all our member countries.
- Brazil appreciates the NDB´s support to the ongoing efforts of BRICS countries to address the health and economic consequences of the COVID outbreak. Challenges are still present, as we are currently implementing a national programme of vaccination while offering additional emergency economic support and advancing our economic reform agenda. This three-pronged approach seeks to protect our populations’ health, safeguard the economic subsistence of the most vulnerable while promoting necessary adjustments for a sustained economic recovery. The counter-cyclical role of development banks such as NDB is of critical value to support our actions in such a complex and difficult context.
- Therefore, we congratulate the efforts made by the Bank and its presidency, and recommend that continued progress be made to promote sustainable development and strengthen investment in infrastructure in our countries. The concept and scope of action of “infrastructure” should be broadened to include social infrastructure, so as to support projects in the health and education sectors.
- We expect to see the Bank’s performance continue to improve, in order to meet the needs of its members, adapting to our different circumstances. This is particularly important as we bring in new members. The addition of new members is an effort that must continue in the next years, guided by the Bank’s policies and members’ orientation.
- From a practical point of view, we encourage the NDB to continue to pursue the development and provision of innovative financing instruments as well as tailored solutions that accommodate interests of its public and private clients.
- The NDB features a growing portfolio of projects in transport, water and sanitation, clean energy, urban development, among other sectors. Over the next five years, the Bank should focus in the quality of its projects and sophistication of its products: enhance development impact and value for money, transparency and governance; align and monitor projects to Sustainable Development Goals.
- Brazil also wants to see private sector playing a protagonist role in the Bank´s portfolio, with more resources mobilized in each project – not only financial, but mainly knowledge, best practices and expertise.
- Also, partnerships with national and multilateral development banks and the mobilization of private capital to make long-term investments must remain at the forefront of the Bank’s efforts.
- Bearing in mind the NDB’s natural vocation to be on the vanguard of development finance, we encourage the Bank to be open, transformative, adaptive and innovative.
- These expectations are compatible with Brazil’s high commitment to the NDB, for the purpose of achieving the development goals so desired by our people.