The Board of Governors of the New Development Bank approved the granting of a loan of up to US$1 billion (around R$5.1 billion) for South Africa. The resources will be used to implement a program to modernize the infrastructure of municipal public services in the metropolitan region of the capital, according to the bank.
The program will benefit eight metropolitan municipalities, including Cape Town, Johannesburg and Tshwane. The resources will be applied to expanding the water supply, sanitation and electricity infrastructure, in addition to modernizing urban solid waste management systems.
The project is expected to improve the population’s quality of life and strengthen the business environment in the benefiting regions, in line with the goals of the South African National Development Plan for 2030. The initiative will also contribute to the advancement of the United Nations’ Sustainable Development Goals, especially those aimed at building more sustainable cities and communities.
During the meeting held at the NDB headquarters in Shanghai, the board of governors also approved advance hiring procedures for companies from non-bank member countries. The measure is part of the project to build a new metro line in Lucknow, capital of the Indian state of Uttar Pradesh, which involves the construction of 11.2 kilometers of tracks and 12 stations.
The board also approved the summarized financial statements for the first quarter of 2026 and a revised version of the institution’s risk management policy, in addition to discussing the project portfolio expected for this year. Evaluation reports on a high-speed regional transport project in India and on the bank’s project portfolio in China were also analyzed.
During the meeting, progress in expanding the institution’s membership was discussed. The council welcomed Uzbekistan as a new member country of the NDB.
The directors also presented recommendations for the elaboration of the general strategy of the New Development Bank for the next five-year cycle, between 2027 and 2031.
Created in 2015 on the initiative of the BRICS countries — Brazil, Russia, India, China and South Africa — the New Development Bank’s mission is to mobilize resources to finance infrastructure projects in emerging economies. To date, the institution has approved 139 projects, totaling almost US$43 billion (R$221.4 billion) in financing. Since 2021, the bank has also started to admit new members in addition to the founding countries, reinforcing its role as a cooperation platform between developing economies.
Source: www.brasildefato.com.br
