New Development Bank BRICS

Donor: 
Any donor
International Finance Institutions
Geographical focus: 
Global
Africa
Americas
East Asia and the Pacific
South Asia
Thematic focus: 
Tourism in general
Employment, decent work and capacity building in Tourism
Infrastructure in Tourism
Trade, Investment and Competitiveness in Tourism
Social inclusion and Poverty reduction in Tourism
Sustainability of natural resources in Tourism
Intro text: 
NDB BRICS started in 2014 as a multilateral development bank operated by the BRICS states (Brazil, Russia, India, China and South Africa). Unlike the World Bank, which assigns votes based on capital share, in the New Development Bank each participant country will be assigned one vote, and none of the countries will have veto power.

Official website

http://ndbbrics.org

Geographic focus

BRICS and other emerging economies and developing countries worldwide.

Who can apply?

  • Public or private projects;
  • Including public-private partnerships in any borrowing member country.

Objectives and activities

Objective: The Bank is set up to foster greater financial and development cooperation among the five emerging markets.

Activities: The Bank shall mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development.

Type and level of funding

Type of funding: loans, guarantees, equity participation and other financial instruments. The level of funding is not defined yet.