The annual meeting will include topics on how to create a fertile ground for continuous investment in BRICS nations. Picture: New Development Bank
The 9th Annual Meeting of the New Development Bank (NDB) will be held in Cape Town at the end of August and hopes to be a platform for discussions on how the bank can finance infrastructure and sustainable projects in emerging markets.
The event is over three days and will take place at the Cape Town International Convention Centre from August 29 to 31, 2024.
This year's theme is “Investing in a Sustainable Future” and according to organisers, this topic will help underscore the NDB’s goal of addressing global challenges through development.
The meeting will also serve as fertile ground for leaders, decision-makers, and business professionals to gather and discuss investment for a sustainable future.
The programme over the three days will include presentations on cutting-edge financial systems for continuous development, prospects for continual investment, as well as thought-provoking panel discussions and keynote addresses by prominent figures.
Organisers said that participants will discuss and examine cooperative initiatives that solve urgent social and environmental issues, especially in emerging markets like South Africa.
Participants will also look at the best practices needed in cultivating new engines for renewable and supportable growth.
Lastly, the NDB meeting will try to foster collaboration with key stakeholders, including senior government officials, business leaders from public and private sectors, experts and scholars, representatives from civil society organisations and the media.
“This annual meeting will generate greater momentum for constructing a more sustainable and prosperous future for all by encouraging effective collaborations,” the NDB website said.
Founding member countries of the NDB include the following BRICS nations:
New nations that joined the NDB in 2021 include Bangladesh and the United Arab Emirates. Egypt joined the NDB in 2023 and Uruguay has been noted as a prospective member to join in the future.
Some of the projects the NDB are involved in include energy, transport infrastructure, water and sanitation, environmental protection, social infrastructure, and digital infrastructure.
The total amount of financing approved by the bank is $32.8 billion and there are around 96 projects approved by the NDB.
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