Guwahati: The New Development Bank (NDB) has announced the opening of its Indian Regional Office (IRO) at Gujarat International Finance Tec-City (GIFT City).
The Indian Regional Office will focus on project origination (including early project preparation and technical support), pipeline development, project execution and monitoring, and regional portfolio management in close collaboration with the NDB Headquarters.
“The Indian Regional Office will be critical in increasing NDB’s engagement with borrowers and stakeholders.” “IRO extends our on-the-ground presence, assisting in project preparation and implementation,” stated Mr. Marcos Troyjo, President of the NDB.
“NDB has created a strong and diverse portfolio of infrastructure and sustainable development projects since its founding.” Our regional offices were critical to the effective expansion of our portfolio. In this sense, the Indian Regional Office is a component of the NDB’s attempt to improve the quality and complexity of its operations by establishing a network of business and development prospects.”
In accordance with the NDB’s purpose, the Bank’s IRO will cater to infrastructure and sustainable development needs in India and Bangladesh, helping to economic growth and sustainable development in South Asia.
The bank is in the final phases of preparing for the office’s physical opening. The appointment of the Director-General of the NDB’s India Regional Office will be announced shortly.
The New Development Bank was founded to supplement the efforts of international and regional financial institutions for global growth and development by mobilising resources for infrastructure and sustainable development projects in the BRICS and other emerging market economies and underdeveloped nations.