"For 2023 and 2024, we already have a pipeline of 76 projects, totalling 18.2 billion dollars," Rousseff stated in a recent written interview. She also highlighted that the bank is well-capitalized with low leverage and is well-positioned to enhance its role as a catalyst for sustainable development initiatives.
Rousseff pointed out that financing in local currencies is a primary objective of the bank, as articulated in the Bank's General Strategy 2022-2026, which stipulates that 30 percent of all financing should be conducted using the currencies of member countries.
The inclusion of new members aligns with NDB's mission to serve as a genuine platform for cooperation among Global South nations. This approach strengthens the bank's capital foundation and broadens its spectrum of trade relationships and diverse developmental projects. This, in turn, contributes to the creation of a financial structure characterized by multilateralism and a multipolar world.
Rousseff highlighted that this expansion would ensure the representation of multiple and diverse voices. She also underscored the NDB's commitment to promoting social and gender inclusivity and supporting projects that can provide a range of opportunities, fostering entrepreneurship, access to income, public services, and quality jobs, especially for women.
Headquartered in Shanghai, the NDB was established to mobilize resources for infrastructure and sustainable development ventures in BRICS and other emerging market economies, as well as developing nations.
Its role complements the efforts of multilateral and regional financial institutions for global growth and development.
The bank's expansion of membership began in 2021, with Bangladesh, the United Arab Emirates, Uruguay, and Egypt joining as new members. This expansion signifies significant progress in the bank's membership and a notable stride toward establishing a globally recognized multilateral development bank.