The National Bank for Financing Infrastructure and Development (NaBFID), a leading Development Financial Institution (DFI) in India, has entered into a Memorandum of Understanding (MoU) with the New Development Bank (NDB) to create a strategic framework for collaboration in infrastructure financing. The agreement focuses on building a deep and sustainable infrastructure financing market and fostering a supportive ecosystem around it. The NDB, established by the BRICS nations—Brazil, Russia, India, China, and South Africa—is a multilateral development bank aimed at mobilizing resources for infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs). Through this partnership, both institutions seek to address the infrastructure financing gap and explore long-term cooperation, including the exchange of technical knowledge and expertise. The collaboration is expected to focus on clean energy and transportation sectors, including renewable energy projects and sustainable water and sewage management. The MoU enables both organisations to work jointly on infrastructure projects through thematic collaborations aligned with their mandates. In addition to project collaboration, the partnership will also extend to research and capacity-building efforts. Both institutions plan to conduct joint seminars, workshops, and other knowledge-sharing initiatives to enhance institutional capabilities and promote innovation in infrastructure financing. This strategic alliance is a step towards strengthening India’s infrastructure development and contributing to sustainable growth in emerging economies. News source: Deccan HeraldImage Source:www.adb.org