NDB Board of Directors Convened its 51st Meeting in Shanghai

On June 9 and 10, 2026, the Board of Directors (Board) of the New Development Bank (NDB) convened its 51st Meeting at the Bank’s Headquarters in Shanghai, China.

Program for Upgrade of Infrastructure for Metropolitan Municipal Services

The Board approved a loan of up to USD 1 billion to the Republic of South Africa for the implementation of the Program for Upgrade of Infrastructure for Metropolitan Municipal Services. The Program aims to boost investments in the provision of essential urban services, including water supply and sanitation, electricity and solid waste management in eight South Africa’s metropolitan municipalities – Buffalo City, Cape Town, Ekurhuleni, eThekwini, Johannesburg, Mangaung, Nelson Mandela Bay and Tshwane. It is expected to enhance living conditions for residents and improve the business climate in the eight municipalities, contributing to socio-economic development, as envisaged in the National Development Plan 2030.

The Program supports achievement of the United Nations Sustainable Development Goals (SDGs), primarily SDG 11 (Sustainable Cities and Communities), while also contributing to SDG 6 (Clean Water and Sanitation) and SDG 7 (Affordable and Clean Energy).

Advanced Procurement from Non-member Countries for the Lucknow Metro Rail (Phase-1B) Project in India

The Board approved advanced procurement action from non-member countries for the Lucknow Metro Rail (Phase-1B) Project. The Project will expand the existing metro rail network in Lucknow, the state capital city of Uttar Pradesh, by constructing a new metro line of 11.2 km in length, including 12 metro stations, providing connectivity between the eastern and the western part of the city.

The Board approved the revised Opex calculation formula and ZARONIA-based pricing, both that apply to sovereign and non-sovereign loans.

The Board was updated on the Bank’s project pipeline for 2026.