The New Development Bank (NDB) and the Brazilian Development Bank (BNDES) signed a new Memorandum of Understanding to continue and enhance the cooperation between the two institutions.
As a continuation of the first Memorandum of Understanding between NDB and BNDES signed in 2015, the new Memorandum aims to expand the cooperation framework between the two institutions for joint initiatives across a wider range of areas of mutual interest.
Under the new Memorandum, the parties are envisaged to exchange knowledge on topics related to infrastructure and sustainable development; explore opportunities to co-design mechanisms for infrastructure investments; perform joint research on topic of mutual interest, and provide mutual training and capacity building through collaboration and staff exchange programs.
“Brazil offers great investment opportunities, and the strategic partnership between NDB and BNDES plays an important role in translating these opportunities into concrete projects, as well as catalysing additional investment from other BRICS countries to Brazil,” said Mr. K.V. Kamath, the President of NDB.
BNDES is willing to work jointly with NDB to address common challenges faced by development banks across BRICS countries.
Original source: NDB
Published on 19 November 2019
