Shanghai, Aug. 25, 2023: The New Development Bank (NDB) will promote the inclusion of new members and finance in local currencies of member countries, Dilma Rousseff, the bank\u2019s president, has said.<\/p>\n\n\n\n
\u201cJust for 2023 and 2024, we already have a pipeline of 76 projects, totalling 18.2 billion dollars,\u2019\u2019 Rousseff said.<\/p>\n\n\n\n
Rousseff said this recently in a written interview, noting that the bank was well-capitalised with low leverage.<\/p>\n\n\n\n
The bank is in a strong position to expand its role as a tool for carrying out sustainable development projects.<\/p>\n\n\n\n
\u201cFinancing in local currencies is one of the bank\u2019s main goals, as it is clearly stated in the Bank\u2019s General Strategy 2022-2026.<\/p>\n\n\n\n
\u201cIt stipulates that 30 per cent of all our financing will make use of the currencies of our member countries,\u2019\u2019 said Rousseff.<\/p>\n\n\n\n
Rousseff told a Correspondent that the inclusion of new members supported NDB\u2019s vocation of functioning as a true platform for cooperation among the countries of the Global South.<\/p>\n\n\n\n
\u201cThis strengthens its capital base and incorporates a wider array of trade relations and of diverse development projects.<\/p>\n\n\n\n
\u201cThis will enable the construction of a financial structure that bears the mark of multilateralism and a multipolar world,\u2019\u2019 said Rousseff.<\/p>\n\n\n\n
He added that multiple and diverse voices would be heard.<\/p>\n\n\n\n
Additionally, Rousseff emphasised the NDB\u2019s commitment to promoting social and gender inclusion and supporting projects capable of guaranteeing a range of opportunities.<\/p>\n\n\n\n
This would help to promote entrepreneurship to access to income, public services and quality jobs, particularly for women.<\/p>\n\n\n\n
Headquartered in Shanghai, the NDB was established with the purpose of mobilising resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries.<\/p>\n\n\n\n
This was so because it helped to complement efforts of multilateral and regional financial institutions for global growth and development.<\/p>\n\n\n\n
The bank started expanding its membership in 2021 with Bangladesh, the United Arab Emirates, Uruguay and Egypt as new members.<\/p>\n\n\n\n
It marked substantial progress in the bank\u2019s membership and a remarkable step toward a global multilateral development bank.<\/p>\n\n\n","protected":false},"excerpt":{"rendered":"
Shanghai, Aug. 25, 2023: The New Development Bank (NDB) will promote the inclusion of new members and finance in local currencies of member countries, Dilma Rousseff, the bank\u2019s president, has said. \u201cJust for 2023 and 2024, we already have a pipeline of 76 projects, totalling 18.2 billion dollars,\u2019\u2019 Rousseff said. Rousseff said this recently in […]<\/p>\n","protected":false},"author":2,"featured_media":2075,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[949],"tags":[1865],"class_list":["post-52487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-brics","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n