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NDB Launches Africa Regional Center in Johannesburg, South Africa

Posted on : 07-09-2017 | Back | Print

NDB LAUNCHES AFRICA REGIONAL CENTER IN JOHANNESBURG, SOUTH AFRICA

On 17 August 2017, the New Development Bank (NDB) officially opened its Africa Regional Center (ARC), the NDB’s first regional office, in Sandton, Johannesburg, South Africa. The Bank is aiming to establish the ARC as an important contributor to sustainable infrastructure development in South Africa and as a useful participant in the development agenda of the continent.

“The establishment of the ARC, is an important milestone for the Bank and marks the fulfillment of a commitment made by the founders of the Bank in its Articles of Agreement. The NDB is working with the Government of South Africa and other strategic partners, including development finance institutions on strengthening its project pipeline, focusing on such sectors as water, transport, energy and urban development.

The NDB was established by Brazil, Russia, India, China and South Africa (BRICS) 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 for global growth and development. To fulfill its purpose, the NDB will support public or private projects through loans, guarantees, equity participation and other financial instruments.
According to the NDB’s General Strategy: 2017–2021, sustainable infrastructure development will be the primary emphasis of the Bank’s operations in the next five years.

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