New Development Bank To Set Up India Office In Gujarat Tech City
The New Development Bank (NDB) will now open its office in the Gujarat International Finance Tech (GIFT) city in May 2022. The India office will help in identifying suitable projects and check out to form a pipeline of potential financing for the bank. NDB is additionally expected to partner with the newly launched National Bank for Financing Infrastructure and Development (NBFID), during a bid to support crucial infrastructure projects across India. The New Development Bank was founded by BRICS countries (Brazil, Russia, India, China, and South Africa) in 2014. It aimed at mobilizing and utilising resources for infrastructure and sustainable development projects in BRICS and emerging markets. The bank became operational in 2015. It is headquartered in Shanghai, China ...
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