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The New Development Bank: What Washington Should Know About the Newest Multilateral Development Bank

Wednesday, October 21, 2020 - 9:00am to 10:00am EST

 

A CONVERSATION BETWEEN:

  • ​​​​​Mr. Leslie Maasdorp, Vice President and CFO of the New Development Bank
  • Scott Morris, Senior Fellow at the Center for Global Development

ABOUT THE EVENT

The New Development Bank recently marked its 5th anniversary with over $21 billion in cumulative financing commitments in support of development projects in its member countries. Due to its unique ownership structure, drawn exclusively from the five “BRICS” countries (Brazil, Russia, India, China, and South Africa), the bank has had less visibility in Washington and Europe. But the bank’s operational model and performance deserves greater attention in western capitals. Since its inception, the NDB has prioritized environmental and social sustainability as it carries forward infrastructure projects in its five member countries.

How has the NDB responded to the COVID crisis in BRICS countries, and what will its strategy look like going forward? How has NDB managed to build a project portfolio of $21bn in such a relatively short period? What is the average loan processing time for a project from concept note to Board approval? Will NDB expand to include other emerging markets and developed countries or stay focused as a BRICS club? From greater mobilization of private sector capital to blended finance, how will the NDB respond to new approaches and financing instruments in the development finance world? Will local currency lending become an even bigger priority, or will USD remain the anchor currency of fundraising and lending?

To help us answer these questions, this discussion will feature senior leadership from the NDB. We look forward to your participation!

If you have questions for our panelists, please submit them to events@cgdev.org, tweet @CGDev #CGDTalks, or submit your comments via YouTube.

Related Experts

Photo of Scott Morris
Director of the US Development Policy Initiative, Co-Director of Sustainable Development Finance, and Senior Fellow