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BSS
  25 Sep 2021, 15:48

Bangladesh joins NDB as its new member

   DHAKA, Sept 25, 2021 (BSS) - Bangladesh has joined the New Development 
Bank (NDB) as its new member as the country has recently submitted its 
Instrument of Accession before the government of Brazil.

   Earlier on August 20, 2021 the NDB -- established by BRICS (Brazil, 
Russia, India, China and South Africa) in 2015 -- enrolled Bangladesh as a 
new member in its Board of Governors meeting.

   In continuation of that, Bangladesh submitted its Instrument of Accession 
before the government of Brazil on September 16 which has ensured the joining 
of Bangladesh into the Bank.

   President of NDB Marcos Trojo has sent a message to Finance Minister AHM 
Mustafa Kamal about the recent development and thus extended him a warm 
congratulations, said a Finance Ministry press release today.

   With the latest inclusion of Bangladesh, any country outside of the BRICS 
alliance got the membership of NDB for the first time.

   Mentioning the unprecedented development attained by Bangladesh over the 
last one era under the dynamic leadership of Prime Minister Sheikh Hasina, 
the Finance Minister said that the demand for foreign assistance has also 
increased during this timeframe alongside the country's development.

   Kamal hoped that the joining of Bangladesh into the NDB would be 
beneficial for both the parties adding that the financing of NDB to 
Bangladesh would play an important role to make sustain the country's 
development and also to turn Bangladesh as a happy and prosperous country by 
2041.

   Since its establishment six years ago, NDB has approved about 80 projects 
in all of its member countries, totaling a portfolio of US$ 30 billion. 
Projects in areas such as transport, water and sanitation, clean energy, 
digital infrastructure, social infrastructure and urban development are 
within the scope of the Bank.

  NDB has an authorised capital of US$100 billion, which is open for 
subscription by members of the United Nations.


   
 

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