"As a result of COVID, a lot of governments are fiscally constrained, they do not have the resources to build new infrastructure, new power, new ports, new rail infrastructure and so on, and that is where the bank plays a critical role," said Vice President and Chief Financial Officer of the New Development Bank (NDB) Leslie Maasdorp.
The bank, headquartered in Shanghai, is a lender established by the BRICS group of emerging nations.
Since its establishment, the NDB has approved more than 80 projects for its members, covering sectors including transport, water and sanitation, clean energy, digital infrastructure, social infrastructure and urban development.
Produced by Xinhua Global Service■
