The Board of Governors of the New Development Bank approved the bank's strategy until 2026. This was announced by the Ministry of Finance of Russia following a meeting of the Board, which was attended by the governors of seven countries-shareholders of the Bank – Russia, India, China, South Africa, Brazil, the UAE and Bangladesh.
"In the current circumstances, the NBR could play an important role for member countries to mitigate the consequences of the growing crisis. We can talk about projects in the field of energy and food security, the development of transport and logistics infrastructure, payment and settlement systems," said Minister Anton Siluanov, quoted in the message.
During the meeting, the participants approved a new five-year strategy for the period 2022-2026. "The transformation of the NBR into a full-fledged platform for expanding economic and financial cooperation between the bank's shareholder countries should become one of the main tasks for the next five–year period," A. Siluanov said.
The participants stressed the significant progress in establishing the bank as a full-fledged practical platform for financing infrastructure projects on the territory of the shareholder countries, expanding economic and financial cooperation between them.
The managers noted the operational and effective activities of the bank to combat the coronavirus pandemic. The NBR has provided more than $9 billion to combat coronavirus infection and finance government programs of the BRICS countries to restore the economy.
The Board of Governors also discussed the prospects for further expansion of the NBR's shareholders.
