“As a top-class financial institution, it (NDB) must develop a strong pipeline of projects and respond in a fast and flexible manner to further the aspirations and interests of its members”, Finance Minister Arun Jaitley said at the first Board of Governors meeting of NDB in Shanghai.
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Zhang expect the NDB to expand economic cooperation between the BRICS, propel integration of global industrial chains, supplement the current global and regional multilateral lenders, and facilitate sustainable development.
While addressing the annual meeting of the bank’s board of directors held in Shanghai, Zhang said he hopes the bank will strive to create new financing models and attract more capital into infrastructure.
The vice premier highly assessed the role of NDB in development of BRICS countries noting that establishing the bank allowed to boost the influence of member countries in worldwide financial matters and benefitted the peoples of BRICS countries.
Institutional investors who participated in the green bond booking told Shanghai Daily that there may be a surge in such bond issues.
“Today we have approved our project in Russian Federation for $100 mln”, NDB President said.
It follows the NDB’s approval of the first package of loans in April 2016, which awarded $811m in green energy loans to clean energy projects in Brazil, India, China and South Africa.
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In its first year, the bank apppointed an executive management team led by banker KV Kamath; finalised its core operational policies; processed its first set of loans – including a $180-million facility for State-owned power provider Eskom; and issued a renminbi-denominated green bond, mobilising nearly $448-million.
