/ -- The New Development Bank (NDB), a multilateral finance institution established by Brazil, Russia, India, China and South Africa (BRICS) in 2014, plans to almost double its loan book to USD 16 billion this year and increase its impact, as the Bank seeks to broaden its global development partnerships and mobilise more institutional and private capital. These announcements were made at the 4th Annual Meeting of the NDB in Cape Town, South Africa which brought together senior government officials from BRICS countries, leaders of multilateral and national development institutions, distinguished scholars, prominent commercial bankers, captains of industry and representatives of civil society organizations.
"In 2019 the Bank will build on the strong momentum in our operations and aims to double its loan approval book to about USD 16 billion," Mr. K. V. Kamath, President of the NDB, said in his keynote speech at the 4th Annual Meeting of the institution in Cape Town, South Africa. "The Bank will ramp up its hard currency financing from the international capital markets."
"We are focusing on the development impact of our lending through more robust monitoring frameworks and measurement of projects' contributions to our members' SDG commitments," said Mr. K.V. Kamath. "Sustainability therefore remains at the core of everything we do."
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