NDB approves emergency pandemic assistance to China

Leaders endorsed dialogue with African and other developing-country partners, distinct from admitting new BRICS members.

Ministers set out cooperation on information and communications technologies and digital inclusion.

The bank and UN Food and Agriculture Organization established a partnership channel relevant to sustainable development and agriculture.

The agreement with Russia provided for a Moscow-based centre to identify projects and strengthen the bank’s regional presence; its opening was a later step.

The eleventh summit addressed economic growth, innovation, multilateralism and cooperation among the five members.

The RMB 5 billion bond was issued to finance the emergency assistance programme for China, connecting capital raising to pandemic response.

The bank’s board approved a US$1 billion emergency loan, later fully disbursed, to support India’s response to COVID-19.

The US$1.5 billion bond raised funds in international capital markets for emergency response by NDB member countries.

A US$1 billion programme aimed to help Brazil respond to the health and economic impacts of COVID-19.

Ministers issued a joint statement on the multilateral trading system and reform of the WTO amid pandemic disruption.