In a significant move underscoring the expanding role of BRICS-led financial institutions in global development, the New Development Bank (NDB) announced plans to raise its total lending to Bangladesh to $1 billion this year. The announcement was made by NDB Vice-President and Chief Operating Officer Vladimir Kazbekov during a high-level meeting at the State Guest House Jamuna in Dhaka on Tuesday (April 8).
Kazbekov confirmed that the Shanghai-based multilateral lender, established by the BRICS nations (Brazil, Russia, India, China, and South Africa), has already approved $320 million for the Expanded Dhaka City Water Supply Resilient Project. However, in response to Bangladesh’s evolving infrastructure and development demands, the bank now intends to more than triple its financial commitment.
“The NDB is committed to supporting Bangladesh in its development journey. We are looking to increase our footprint not only in public infrastructure but also in the private sector,” said Kazbekov. He emphasized the bank’s interest in funding critical areas such as gas sector infrastructure and social infrastructure initiatives, including affordable housing for workers in the country’s rapidly growing economic zones.
The meeting was attended by key figures in Bangladesh’s development landscape, including Nobel Laureate and Chief Adviser Professor Muhammad Yunus, Economic Relations Division (ERD) Secretary Shahriar Kader Siddiqi, BIDA Executive Chairman Chowdhury Ashik Mahmud Bin Harun, and SDG Coordinator Lamiya Morshed.
Professor Yunus welcomed the NDB’s expanded engagement, underscoring the role of multilateral financing in fostering inclusive and sustainable development. “The role of institutions like the NDB is critical in helping countries like Bangladesh build sustainable and inclusive infrastructure,” Yunus stated.
Highlighting a key strategic innovation, Kazbekov also introduced the NDB’s multi-currency lending model, designed to offer flexible financial solutions tailored to the borrower’s market conditions.
ERD Secretary Shahriar Kader Siddiqi urged the NDB to adopt a Bangladesh-specific strategy that aligns closely with the country’s long-term development goals. “Such a tailored approach will enhance the effectiveness of NDB’s engagement and help unlock Bangladesh’s full development potential,” he said.
The New Development Bank, created in 2015 as a BRICS initiative to promote infrastructure and sustainable development in emerging economies, is increasingly positioning itself as a key player in the global development finance architecture. With its growing focus on countries like Bangladesh, the NDB exemplifies the shift toward more diversified and equitable global financial institutions, driven by the priorities of emerging economies.
The bank’s strategic pivot to include both public and private sector investments, and its emphasis on social infrastructure, reflect BRICS’ broader development agenda — prioritizing inclusive growth, sustainable urbanization, and South-South cooperation.
As Bangladesh continues to chart an ambitious development course, the deepening partnership with the NDB signals rising international confidence in the country’s economic future and highlights the growing influence of BRICS nations in shaping global financial frameworks.
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