President of Uzbekistan Shavkat Mirziyoyev Meets with BRICS New Development Bank President Dilma Rousseff.
President of Uzbekistan Shavkat Mirziyoyev held a meeting with the President of the BRICS New Development Bank (NDB), Dilma Rousseff. During the meeting in Kazan, the two sides discussed projects spanning various sectors, the press service of the President of Uzbekistan reports.
Establishing Mutually Beneficial Relations with a Financial Institution
The discussions focused on strengthening mutually beneficial cooperation with this respected multilateral financial institution.
Key areas of partnership identified included programs and projects related to education, technological progress, social sector support, and modernization of industrial and infrastructure sectors, logistics, digitalization, energy, and utilities.
Creation of a Joint Expert Group
The parties agreed to form a joint expert group tasked with developing specific projects for future cooperation.
This initiative aims to facilitate the effective implementation of planned initiatives and strengthen business relations.
About the BRICS New Development Bank (NDB)
The NDB is a multilateral investment bank established to finance infrastructure and sustainable projects in BRICS countries (Brazil, Russia, India, China, and South Africa) and other developing nations.
The primary goal of the NDB is to promote economic development, ensure sustainability, and improve living standards in member countries.
Key Aspects of the NDB:
- Foundation and Headquarters:
The NDB was established in 2014 during the BRICS summit in Ufa, Russia. Its headquarters is located in Shanghai, China.
- Project Financing:
The bank provides loans for large infrastructure projects, including the construction of roads, bridges, energy facilities, and the development of clean technologies.
- Sustainable Development:
The NDB actively supports projects that address social and environmental issues, including sustainable resource management and climate change mitigation.
- Expanding Influence:
In 2021, the NDB opened membership to new countries, expanding its influence and attracting additional investments.
The BRICS New Development Bank aims to become a vital tool for financing essential projects in developing countries and fostering their economic growth.
CentralasianLIGHT.org
October 24, 2024