The Union Finance Minister Shri Arun Jaitley and NDB President Shri K.V. Kamath discuss operations of the NDB including issuance of Masala Bonds by NDB

The Union Finance Minister Mr. Arun Jaitley and the New Development Bank (NDB) President Mr. K.V.Kamath had a meeting yesterday evening wherein both the leaders discussed the progress achieved by the NDB. They also discussed the Bank’s operational plans for 2017. The bilateral meeting took place on the sidelines of the 3-day NDB Second Annual Meeting of its Board of Governors and Directors which is currently going on in the national capital.

The focus of the meeting was on the required steps in expanding the Bank’s operations in India, including project pipeline. The forthcoming masala bond issuance by the NDB was also discussed.

The New Development Bank was created by the BRICS countries with an objective of financing infrastructure and sustainable development projects in its member countries.