BRICS Bank Will Contribute To Green Development: CFO

BRICS Bank Will Contribute To Green Development: CFO

Leslie Maasdorp, Vice-President and Chief Financial Officer of New Development Bank, discusses the bank’s strategy for staying green and its plans to expand investment in 2017

The New Development Bank (NDB) is planning to approve more than 15 projects totalling USD 3 billion in 2017. The multilateral development bank was founded by the BRICS countries (Brazil, Russia, India, China and South Africa) in 2015. The forthcoming projects are in sectors including renewable energy, sustainable transport, water treatment, and urban development, according to Leslie Maasdorp, vice president and chief financial officer of the New Development Bank.

According to the bank’s Five-Year General Strategy, around two-thirds of all its financing commitments in the coming five years will go to sustainable infrastructure development. Within its existing project portfolio, six out of seven projects are in the renewable energy sector. Last year, the NDB also completed its first green bond sales in China, worth three billion yuan (USD 448 million), making it the first multilateral financial institution to issue green bonds in mainland China. Read More…

 

Credit By : India Climate Dialogue

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