The National Bank for Financing Infrastructure and Development (NaBFID) has signed a Memorandum of Understanding (MoU) with the New Development Bank (NDB) to promote infrastructure development in India. The partnership aims to create a deep and sustainable infrastructure financing market, bridging the infrastructure financing gap and exploring long-term collaboration opportunities. The two institutions will work together on clean energy and sustainable transportation projects, including renewable energy development, efficient water and sewage systems, and environment-focused initiatives.
The MoU also sets the stage for thematic-level collaborations within the mandates of both organizations, including joint research, capacity-building programs, seminars, and workshops to promote knowledge sharing and enhance institutional competencies. NaBFID Managing Director Rajkiran Rai G welcomed the agreement, stating that it will help accelerate infrastructure financing in clean energy and social impact projects, creating long-term value for all stakeholders.
Vice President and Chief Operating Officer of NDB, Vladimir Kazbekov, echoed similar sentiments, saying that the MoU reflects their shared vision of fostering economic growth while promoting sustainable and inclusive development. This strategic alliance marks a key step in aligning India’s infrastructure ambitions with global sustainable development goals, while also enhancing the country’s position in the emerging market infrastructure finance space.
The partnership is expected to have a significant impact on India’s infrastructure development, driving growth while promoting sustainable and inclusive development. The MoU is a testament to the commitment of both institutions to mobilizing resources for infrastructure and sustainable development projects in emerging markets and developing countries. With this partnership, India is poised to make significant progress in its infrastructure development, aligning with global sustainability goals and cementing its position in the emerging market infrastructure finance space.