New Development Bank Ndb

The New Development Bank (NDB or the Bank) is a multilateral development bank established in 2015 by Brazil, Russia, India, China, and South Africa (collectively BRICS or the BRICS countries). As enshrined in its Articles of Agreement (AoA), the Bank is mandated to mobilise resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries (EMDCs), contributing to global growth and development. To expand its reach and impact, NDB started expanding its membership in 2021. Since then, Algeria, Bangladesh, Egypt, United Arab Emirates, and Uruguay have been admitted by the Bank as its new members.The Bank's membership is open to all members of the United Nations. By the end of 2024, the Bank had cumulatively approved around UDS 39 billion for 120 projects, in a range of operational areas such as clean energy and transport infrastructure, water and sanitation, digital and social infrastructure, and environmental protection, which reflect the diverse and evolving national development priorities of its members, especially those aligned with the United Nations 2030 Agenda for Sustainable Development and the Paris Agreement. NDB is headquartered in Shanghai, China, and has regional offices in each of the founding member countries.