/ -- The 4th Annual Meeting of the NDB Board of Governors (BoG) and the 18th Meeting of the NDB Board of Directors (BoD) were held in Cape Town, South Africa on 31 March and 1 April 2019 respectively. At the meetings, members of the Boards noted the achievements of the Bank, including expansion of its business, significant growth of loan portfolio as well as the ramp-up of the NDB's borrowings. The Board of Governors also provided guidance for the Bank's future work.
The 4th Annual Meeting of the NDB BoG was chaired by Mr. Tito Titus Mboweni, Governor of the NDB, and Minister of Finance of the Republic of South Africa.
Mr. Paulo Guedes, Governor of NDB, Minister of Economy of Brazil was elected as the next Chairman of the BoG, and will serve in this position until the end of the next BoG Annual Meeting. The next Annual Meeting of the Bank's BoG will be held in Brazil in 2020.
The Governors approved the Audited Financial Statements for the year ended December 31, 2018 and also approved the Condensed Unaudited Financial Statements for the NDB Project Preparation Fund for the year ended December 31, 2018.
The Governors appreciated that the Bank's loan portfolio had risen to approx. USD 8.1 billion in 2018. As a part of this commitment, the Bank's Board of Directors approved loans worth approx. USD 1.2 billion during their 18th Meeting on 31 March 2019. Five projects approved during the 18th BoD Meeting bring the total amount of the Bank's portfolio to over USD 9.2 billion.
The following projects were approved during the 18th BoD Meeting:
Zhejiang Green Urban Project - Shengzhou Urban and Rural Integrated Water Supply and Sanitation Project (Phase II)
Guangxi Chongzuo Urban Water System Ecological Restoration Project
Environmental Protection Project for Medupi Thermal Power Plant
Renewable Energy Sector Development Project
Lesotho Highlands Water Project
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