The National Bank for Financing Infrastructure and Development (NaBFID) has signed a strategic Memorandum of Understanding (MoU) with the New Development Bank (NDB), marking a significant step towards accelerating infrastructure financing and sustainable development in India.
The MoU aims to foster collaboration between the two institutions in areas such as clean energy, sustainable transportation, and water management. Both entities will work together to address the infrastructure financing gap in India and explore long-term collaboration opportunities through joint research, knowledge sharing, and thematic-level partnerships.
The New Development Bank, established by the BRICS nations—Brazil, Russia, India, China, and South Africa—has committed over USD 35.6 billion in financing since its inception. NaBFID, founded in 2021, is India’s premier development financial institution focused on long-term infrastructure financing.
Rajkiran Rai G., Managing Director, NaBFID, said, “This collaboration with NDB marks a significant step in our commitment to nation-building and sustainable development.”
Vladimir Kazbekov, Vice President & COO, NDB, added, “We are delighted to partner with NaBFID to drive India’s infrastructure and social sector development.”
The MoU also includes capacity-building initiatives such as joint seminars and workshops to enhance institutional capabilities and promote a sustainable infrastructure financing ecosystem.
