INTRO:-

Member   -)  5  (Brazil, Russia, India, China, South Africa)

• NDB referred as “BRICS Development Bank .
• Multilateral development Bank
• Bank support public are private projects through loans guarantees, equity participation.
• Formation -)      July 2014 (signed Treaty) Sixth BRICS summit on Fortaleza, Brazil

July 2015 (come in force)

In 2018 the NBD achieved observer status at UNGA

• Type- Internal Financial Destination
• Headquarter – Shanghai, China
• Capital – $10 billion.
• 1^st regional office NDB is in south Africa.
• 2^nd Regional office was established in 2019 in Brazil.
• AIM- Contribute to development place established nationally through project their socially economical and environmentally sustainable.

HISTORY:

• Idea for setting up bank given by India at 4^th BRICS summit in 2012 held in Delhi.

Organs :-

• Board of governor
• Board of director
• President and vice president

1st President of NDB way India’s K.V. Kamath.

2nd Current is Brazil’s Macros Prado / since 20

Objectives:-

• Promote infrastructure and sustainable development project.
• Established extensive network of global partnership with other multilateral development institution and national development bank
• Build a balanced project portfolio giving a proper respect to their geographic location financing requirement and other factors.

Achievements:

• As of November 2020, it had approved projects totaling $21 billion in five BRICS nations in the areas of clean energy, urban development, social infrastructure, water resource management, and environmental efficiency.
• Local currencies are used as the denominator in 27% of bank project approvals. NDB has received favourable ratings from rating agencies.
• NDB pledged a $10 billion Emergency Assistance Program for its members to help combat the epidemic and its effects during COVID-19.

Concerns :-

• The project’s financing in this way is not environmentally sustainable. The trans-Amazonian highway project in Brazil, for instance, would negatively impact the ecologically fragile Amazon forest.
• In general, the bank’s use of borrowing for projects that it approved violates socio-environmental standards. It must be ensured that environmental harm does not outweigh project advantages economically. (Balancing efforts for the environment and social good)

Investment in India by NDB :-

• Emergency assistance program in combating COVID -19
• Mumbai urban transport project – Phase 3
• REC Renewable energy sector development project
• Indore metro rail project
• Manipur water supply project
• Assam bridge project
• Mumbai metro rail project
• Madhya Pradesh bridge and road project
• Meghalaya eco tourism infrastructure development project
• Sustainable low carbon rail infrastructure program