The Ninth Annual Meeting of the New Development Bank to be held in Cape Town
28 August 2024
The New Development Bank (“NDB” or “the Bank”) and the Government of the Republic of South Africa will host the Ninth Annual Meeting of the NDB Board of Governors to be held on August 29-31, 2024, in Cape Town, South Africa.
This year 2024 marks a significant milestone in the history of the NDB, the 10th anniversary of the signing of the Agreement on the New Development Bank. Over the past decade, the NDB has achieved important strategic objectives. It has opened four regional offices and centres in all founding member countries. The Bank has expanded its membership – with the addition of Bangladesh, Egypt and the United Arab Emirates. It has approved over USD 30 billion in project financing in its member countries.
The NDB has targeted, in its General Strategy 2022-2026, to direct 40% of its total project financing contributing to climate change mitigation and adaptation, including energy transition. It hopes to work together with private partners and other national and multilateral developments banks in the co-financing of projects. Reflecting on what has already been accomplished, but, more importantly, on what can still be achieved, the theme for the Ninth Annual Meeting will be “Investing in a Sustainable Future”. In a statement the NDB said that it hopes to provide a platform for the discussion and deliberation on how the NDB, in collaboration with national governments, the private sector, civil society and other multilateral development banks, can further strengthen its capacity to promote sustainable projects in emerging markets and developing countries.
In addition to the Opening Ceremony, where the Ministers of Finance of the NDB member countries will deliver their addresses, the NDB Flagship Governors Seminar and other seminars/workshops will be scheduled and are expected to enable a productive exchange of knowledge, lessons and ideas on several inter-related aspects of the broad theme of “Investing in a Sustainable Future” the statement said.
The Ninth Annual Meeting will bring together Ministers from NDB member countries, as well as other national and local government representatives, leaders of multilateral and national development institutions, distinguished scholars, prominent commercial bankers, business leaders and representatives of civil society organisations.
NDB