New Development Bank unveils $2.7bn project plans
The New Development Bank has approved five investment projects with a total commitment of about $2.7 billion.
The bank approved a loan of $1.2 billion to the Brazilian development bank BNDES to support it in financing sustainable infrastructure sub-projects in the public and private sectors .
A loan of €134.64 million was agreed to the Far South Regional Development Bank for the Urban, Rural and Social Infrastructure Program to achieve the SDGs. The loan will be used by the bank for on-lending to sustainable infrastructure sub-borrowers in the public and private sectors in the southern region of Brazil, comprising the states of Rio Grande do Sul, Paraná and Santa Catarina.
The NDB Board also approved a loan of $300 million to Mobile TeleSystems Public Joint Stock Company for the Cellular Network and Cloud Services Expansion Project in Russia. The loan will be used to finance a part of the company’s capital expenditure program aimed at the expansion of its cellular network and deployment of cloud services infrastructure in Russia. The Project will support equitable access to faster internet for the Russian population in addition to providing enterprises access to a wide range of cloud services.
