The New Development Bank (NDB) has approved $875 Million USD worth of projects to improve water access and sanitation in Brazil, India and China. Ecotourism and transport will also benefit.
Of this, a tranche of $300 Million USD will be allocated to Brazil. With these funds, more than 600,000 households will be connected to water supply while more than 700,000 in the city of Sao Paulo will be equipped with sewage collection systems.
Two projects will be implemented in India. One, with a value of $70 Million USD will be channeled to the Lamphelpat Waterbody Rejuvenation Project, in the Indian state of Manipur. According to the NDB’s press release, “a technology-driven real time flood management system with early warning capacity will (…) be set up and thus improve efficiency in flood prevention, as well as timely delivery of relief and recovery efforts to the flood affected region”. Another Indian project funded by NDB will be channeled to an infrastructure project in the area of ecotourism.
The funds destined for China will be invested in transport, namely in the expansion of two Chinese airports.
The NDB emerged from the 2012 BRICS (Brazil, Russia, India, China and South Africa) Summit in an effort to finance development projects in BRICS and other emerging economies.
With the approval of these projects, this will bring the total invested by NDB in infrastructure and sustainable development to $32 Billion USD.
The announcement comes as NDB celebrates its anniversary. For seven years, it has invested in areas such as water, sanitation and clean energy in an effort to help member countries achieve the UN’s Sustainable Development Goals (SDGs).