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The NDB has the highest credit rating assigned to any multilateral bank established solely by emerging economies: Marcos Troyjo, President, NDB

Posted on August 22, 2021

NDB’s local presence in India would broaden the scope of its engagement with Indian businesses and create opportunities to expand the pipeline of projects for NDB: Onkar Kanwar, President, BRICS Business Council

· Activating and accelerating the state’s knowledge and innovation ecosystem is essential for investing in the state: Pooja Kulkarni, MD & CEO, Guidance

NEW DELHI: Mr. Marcos Troyjo, President, NDB to Plenary session with the presidents of the national sections of the BRICS Business Council said earlier this week that aligning this year’s BRICS Business Forum with the work of the NDB highlights the potential we have for further collaboration with the BRICS Business Council. NDB has over 70 projects in all member countries, and project approval is close to $ 30 billion. The bank supports strategic infrastructure projects that meet the main development needs of BRICS countries. NDB also contributes to the achievement of sustainable development goals and sectors such as transport, urban development, irrigation, clean energy, social infrastructure and environmental efficiency are all within our reach, a- he adds.

Mr. Marcos Troyjo added, “The NDB today enjoys the highest credit rating assigned to any multilateral bank established solely by emerging economies. Achieving the 2030 sustainable development agenda requires large-scale and long-term investments by countries in physical, social and digital infrastructure and, therefore, we map the contributions of each of our investments to achieving commitments made by our member countries within the framework of the 2030 agenda. “

Mr. Onkar Kanwar, President of the Indian Section of the BRICS Business Council, said, “Sustainability is at the heart of NDB operations as the bank completes its first five-year cycle. It has approved more than 70 projects worth nearly US $ 30 billion in all BRICS countries. Green and clean energy has always been at the heart of NDB’s operations, and the bank has approved 15 clean energy projects over the past five years, many of which focus on renewable energy. We also hope that the NDB will serve as a catalyst in other priority areas such as infrastructure and agribusiness. India is currently in the process of setting up a development finance institution, called the National Infrastructure and Development Finance Bank, which mainly aims to finance large infrastructure projects. Lessons learned from NDB’s own experience can be extremely useful for the success of the ongoing DFI operations in India.

“Over the years, the New Development Bank has also expanded its network by establishing regional offices in South Africa, Brazil and Russia. We understand that a regional office in India is also under construction this year. We look forward to this development. We believe that a local NDB presence in India would broaden the scope of its engagement with Indian companies and create opportunities to expand the pipeline of projects for NDB, ”he added.

Mr. Jackson Schneider, President of the Brazilian Section of the BRICS Business Council, said: “We have noticed an increase in the number of companies seeking ESG certification in Brazil and, according to Bank of America, in the first quarter of 2021, Brazil issued 79% of the total green bonds and bonds linked to the sustainable development raised in Latin America. , which also demonstrates the commitment to this program. As a company, we recognize the urgency of the climate crisis and are fully committed to a more sustainable future. To do this, we have included ESG as one of the pillars of our strategic plan “Fit for Growth”, aligning the business strategy with social responsibility and environmental practices, in order to achieve the industry objective. aerospace industry with zero net carbon emissions by 2050. “

Mr. Sergey Katyrin, President, Russia Section of the BRICS Business Council, said: “For the BRICS countries, the development of ‘digital’ is one of the priorities, which is determined by the national plans and strategies implemented in recent years. We are all interested in building a digital economy, a digital infrastructure, exporting our products and solutions, ensuring national security, digital sovereignty, which has recently acquired special importance. It is extremely important to develop a unified position in the field of cybersecurity and the protection of personal data of its citizens. Accelerating the process of mutual recognition of electronic documents for entrepreneurs is what businesses are waiting for today. Even the mutual recognition of an electronic digital signature across BRICS countries will have a big effect in the medium term.

Capt. Xu Lirong, President of the China Section of the BRICS Business Council, said, “By adhering to the concept of ecological conservation and low-carbon green circular development, China has implemented a series of policy measures to optimize the industrial structure, build a low-carbon energy system, develop green buildings and low-carbon transport, and establish a national carbon emissions trading market through technological and institutional innovation. All of these efforts are being made to ensure that it will meet peak emissions and carbon neutrality targets. We can use the BRICS Business Council as a platform to promote the sustainable development of enterprises and business communities in BRICS countries can strengthen joint technological research, accelerate energy conservation and emission reduction to capture the market opportunities for new energies to achieve sustainable business development.

Ms. Busi Mabuza, President of the South Africa Section of the BRICS Business Council, said: “South Africa is in a better position when it comes to vaccine supplies and availability has improved markedly as our government partnered with the private sector to make it widely accessible. This is not the case for other parts of the continent, however. We welcome the commitment of $ 600 million from the French, German and US governments and the World Bank to help Aspen, one of our pharmaceutical companies, produce the Johnson & Johnson vaccines for the rest of the continent. “

Speaking on stimulating investment in the state of Tamil Nadu, Mrs Pooja Kulkarni, MD and CEO, Guidance Tamil Nadu, said, “As an agency that monitors and develops policy for investment opportunities, we welcome and look forward to supporting investors to set up operations in Tamil Nadu, India’s second largest economy with 8% of national GDP. To make Tamil Nadu the preferred destination for investors, we are working to activate and accelerate the state’s knowledge and innovation ecosystem into India’s main hub for high-tech industries.

It has further added to the creation of an enabling environment for industry and research institutions by focusing on advanced research in various industries. In addition, Ms. Kulkarni stressed that priority should be given to decisions on incentives and subsidies for the electric vehicle and electronic equipment manufacturing sectors.

To further strengthen trade and investment relationships within the BRICS, the Ministry of Commerce of the Government of India, together with the FICCI and with the support of the BRICS Business Council, organized the 2nd BRICS Trade Fair, which is the world’s largest platform. provides an opportunity for Indian companies to meet and network with counterpart companies from Brazil, Russia, China and South Africa. Organizers informed that more than 600 companies from BRICS nations showcased their products and services at the exhibition. 18 investment agencies and states / provinces presented investment opportunities in their respective regions.

BRICS 2021 saw the participation of over 5,000 delegates and the event featured over 2,500 pre-fixed B2B meetings. The trade show also saw over 8,000 virtual booth visits by trade commissioners, which attributed to over 2,000 trade interactions. In addition, the virtual exhibition platform witnessed more than 3000 business card exchanges and was represented by various industries from the BRICS member countries, with 610 exhibitors from the five countries.