The Ninth Annual Meeting of the New Development Bank (NDB) is set to take place in Cape Town, South Africa, from August 29 to 31, 2024, at the Cape Town International Convention Centre.
The meeting comes as the bank marks a number of landmark moments, including a record $1.2 billion in panda bonds, a loan for sustainable infrastructure in China, as well as the departure of CFO Leslie Maasdorp. Earlier this year, at its meeting in Shangai, the Board of Directors of the NDB underscored the NDB’s commitment to supporting its member nations in their recovery efforts and advancing long-term development goals. This will include a robust pipeline for 2024.
Meanwhile, NDB’s Vice President and Chief Administration Officer, Qiangwu Zhou, told a forum in Boao that the bank plans to disburse approximately $5 billion in loans within the current year, according to this report.
The theme of this year’s Annual Meeting is “Investing in a Sustainable Future.”
The NDB, established by the BRICS countries, has consistently focused on mobilising resources for infrastructure and sustainable development projects in emerging economies. This meeting in Cape Town is particularly significant, as it will bring together key stakeholders from member countries, international organisations, and the private sector to discuss strategies and projects that align with the theme.
Hosting the meeting in Cape Town also underscores South Africa’s pivotal role within BRICS and its commitment to sustainable development. Further details on the meeting will be released shortly.
See our special report on the New Development Bank: Ten years later
