NDB approves emergency assistance programme for Brazil

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

The bank’s board approved a RMB 7 billion emergency programme loan to help address the health and economic effects of COVID-19.

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.

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

A declaration set up a business network intended to expand women’s participation in cross-border economic cooperation.

The twelfth summit addressed the pandemic, international economic recovery, security and continued cooperation among the five countries.

The strategy set medium-term cooperation priorities in trade, investment, finance and the digital economy.

At the bank’s sixth annual meeting, governors reviewed emergency lending, plans for new members and infrastructure priorities.