New Delhi: The National Bank for Financing Infrastructure and Development (NaBFID) has signed a memorandum of understanding (MoU) with the New Development Bank (NDB), marking a move towards joint efforts in infrastructure financing and sustainable development, particularly in clean energy and transport.
Focus on Sustainable Infrastructure
The agreement outlines a framework for cooperation on developing a sustainable infrastructure financing ecosystem in India. Both institutions aim to collaborate on projects in renewable energy, efficient urban utilities like water and sewage systems, and environment-focused initiatives. The partnership also opens the door to technical cooperation and long-term research engagement.
The NDB, set up by the BRICS countries — Brazil, Russia, India, China, and South Africa focuses on funding infrastructure and development projects in emerging markets. This collaboration with NaBFID adds to India’s efforts to attract multilateral support for infrastructure investments aligned with climate and sustainability goals.
Joint Programs and Knowledge Sharing
The MoU also covers institutional strengthening through research initiatives, capacity-building programs, and joint seminars. These will be designed to promote exchange of knowledge and improve the ability of both banks to assess and support infrastructure proposals.
According to NaBFID Managing Director Rajkiran Rai G, the agreement will support India’s infrastructure push in clean energy and social sectors, though details of specific projects or funding volumes were not disclosed.
Vladimir Kazbekov, Vice President and COO of NDB, noted the collaboration reflects both institutions’ interest in aligning infrastructure investments with sustainability objectives.
