The National Bank for Financing Infrastructure and Development (NaBFID) has signed a Memorandum of Understanding (MoU) with the New Development Bank (NDB) in a strategic move to enhance infrastructure development and sustainable financing across India.
This partnership is set to reinforce the country’s infrastructure finance ecosystem, with a special focus on sectors like renewable energy, sustainable urban transportation, water management and social infrastructure. The collaboration aligns with both institutions’ mandates to support long-term, impactful development projects that contribute to India’s economic and environmental goals.
Speaking on the agreement, Rajkiran Rai G., Managing Director of NaBFID, said, “This collaboration with NDB marks a significant step in our commitment to nation-building and sustainable development. The MoU will help NaBFID accelerate financing for clean energy and social impact projects, creating long-term value for all stakeholders.”
Beyond project financing, the MoU also includes joint initiatives in research, capacity-building and knowledge exchange. NaBFID and NDB will organise seminars, workshops and technical programmes to strengthen institutional capabilities in project evaluation, implementation and policy development.
Vladimir Kazbekov, Vice President and Chief Operating Officer of NDB, expressed confidence in the partnership, stating, “We are delighted to partner with NaBFID to drive India’s infrastructure and social sector development. This MoU reflects our shared vision of fostering economic growth while promoting sustainable and inclusive development.”
The New Development Bank, established by the BRICS nations—Brazil, Russia, India, China and South Africa—was created to mobilise resources for infrastructure and sustainable development across emerging economies. This agreement signals NDB’s expanding engagement in India, in collaboration with NaBFID, a key domestic institution committed to building robust, future-ready infrastructure systems.
