On October 25, the New Development Bank (NDB) and the Ministry of Finance of China co-hosted a workshop on NDB New General Strategy at NDB Headquarters in Shanghai. As one of the events of BRICS cooperation in 2022, the workshop focused on “Scaling Up Development Finance for a Sustainable Future.” Liu Kun, Minister of Finance of China, and Marcos Troyjo, President of NDB, delivered opening remarks via video link. Wang Dongwei, Vice Finance Minister of China, attended the workshop via video link. The NDB senior management, representatives of member countries, experts and scholars attended the workshop at NDB’s Headquarters or online.

At the opening ceremony, Minister Liu Kun commended NDB for the fruitful achievements in the past seven years since its inception. He encouraged NDB to take the implementation of its new general strategy as an opportunity to uphold its mission with the spirit of openness and inclusiveness, and adhere to high standards for development. He stressed that China will work with other members to support greater development of NDB and a steady process of NDB to admit new members, so that the Bank could play a bigger role in promoting the sustainable development of member countries. President Troyjo mentioned that NDB will focus on clean energy and digital infrastructure as priority areas, innovate financing tools to mobilize more financial resources, increase institutional capacity, advance membership expansion in a gradual and balanced manner, and support member countries for achieving SDGs set in UN’s 2030 Agenda.

In the thematic discussion, Vice Minister Wang Dongwei pointed out that NDB should effectively respond to its member countries’ development needs, actively nurture new drivers of development in member countries, foster an international environment conducive to development, and vigorously support the sustainable development of member countries. Other panelists shared their views that the NDB should focus on improving its capacity in financial resource mobilization and provide sustained and reliable financial and intellectual support to member countries. NDB is expected to adhere to its mandate of "development and cooperation", follow the member-led approach, better align the new general strategy with the national strategies of member countries, learn experiences of peer multilateral development banks, improve its internal governance, steadily expand its membership, increase development impact and promote the synergy of development.