NDB and Government of India Convened Seminar on Mobilising Private Capital for Developing Countries

On August 12, 2026, the New Development Bank (NDB), founded by the BRICS countries in 2015, together with the Ministry of Finance, Government of India, convened a seminar on “The Role of the New Development Bank in Mobilising Private Capital in Member Countries.”

Held on the sidelines of the first BRICS Finance Ministers and Central Bank Governors (FMCBG) meeting under India’s 2026 chairship, the seminar brought together senior government officials, financial institutions, private sector leaders, academics, and experts from NDB and BRICS member countries to discuss practical ways to scale private capital mobilisation for infrastructure and sustainable development.

In her keynote address, H.E. Mrs. Nirmala Sitharaman, Union Finance Minister of India and NDB Governor for India, set the tone for the seminar. She emphasised the critical role of multilateral development banks in de-risking investments, enhancing project bankability, and strengthening investor confidence to mobilise private capital at scale.

Union Finance Minister Nirmala Sitharaman noted that while BRICS economies represent major growth engines of the global economy, they also face common structural constraints in mobilising private capital at scale. She emphasised that the challenge lies not only in capital availability, but also in building the confidence, stability, predictability, and credible long-term frameworks needed to unlock sustained private participation across member countries.

“The New Development Bank holds a critical role. Its comparative advantage lies not only in financing infrastructure, but in strengthening the overall investment ecosystem across member countries,” said Union Finance Minister Nirmala Sitharaman.

Mrs. Dilma Rousseff, President of the New Development Bank, said: