Nearly a third of NDB's funding provided for fighting Covid: NDB President

NDB has approved more than $3.6 billion loan for seven operations that entail on-lending through national financial intermediaries.

About a third or over $9 billion of New Development Bank’s (NDB) portfolio has gone towards fighting the impact of Covid-19 pandemic, the development bank’s president Marcos Troyjo said.

“NDB’s portfolio of projects has continued to grow and diversify. Today, NDB has approved financing for around 80 infrastructure and sustainable development projects in all our member countries, totaling portfolio of about $30 billion,” Troyjo said at the Annual BRICS Financial Forum. Over $9 billion of this financing has gone towards fighting the effects of Covid-19 across member countries, he added.

NDB’s lending activities have increased and involve collaboration with national