New Development Bank (NDB)

The New Development Bank is a multilateral development finance institution established by BRICS nations - Brazil, Russia, India, China and South Africa. It is the first institution of global scope set up exclusively by emerging market countries. It is the Bank’s mission to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions to promote global growth and development. Faster speed of execution without compromising quality, better understanding of the borrowers' mindset, a spirit of collaboration with other development bodies, innovative approaches, simple governance and lean organization are among the key principles that define NDB’s way of working. The signing of the Headquarters Agreement between the NDB and the Government of the People's Republic of China on 27 February 2016 paved the way for the commencement of full-scale operations of the NDB. Our headquarters is located in Shanghai, China and our first regional center will be in Johannesburg, South Africa.