Mumbai, April 10 -- The National Bank for Financing Infrastructure and Development (NaBFID) has signed a Memorandum of Understanding with the New Development Bank (NDB) to strengthen cooperation in infrastructure and sustainable development financing in India.
The agreement establishes a strategic framework to develop a robust infrastructure financing ecosystem, enhance knowledge sharing, and explore joint project participation.
Areas of collaboration include clean energy, sustainable transport, water and sewage management, and thematic-level partnerships aligned with each institution's mandate.
"This collaboration with NDB marks a significant step in our commitment to nation-building and sustainable development. This MoU will help NaBFID accelerate infrastructure financing in clean energy and social impact projects, creating long-term value for all stakeholders," said Rajkiran Rai G., Managing Director, NaBFID.
Vladimir Kazbekov, Vice President and COO, NDB, added, "We are delighted to partner with NaBFID to drive India's infrastructure and social sector development. This MoU reflects our shared vision of fostering economic growth while promoting sustainable and inclusive development."
The MoU also includes joint efforts in research and capacity-building through seminars and workshops.
Published by HT Digital Content Services with permission from Construction World.