Multilateral Cooperation Center for Development Finance (MCDF) CEO Zhongjing Wang participated in the 9^thAnnual Meeting of the New Development Bank (NDB) held in Cape Town, South Africa on 29-31 August, including as a seminar panelist.

During the NDB Annual Meeting, MCDF also conducted bilateral meetings with Bangladesh, Brazil, and Egypt, as well as representatives from the African Development Bank, NDB, and a number of New Partners (developing country financiers), to build cooperation for advancing high-quality connectivity infrastructure financing and development.

At the opening reception, CEO Wang congratulated NDB President Dilma Rousseff on successfully holding the annual meeting. He also reaffirmed MCDF’s commitment to expand MCDF-NDB information sharing and capacity building activities, such as the cohosted land and asset valuation in involuntary resettlement workshop, to promote the application of International Financial Institution (IFI) standards in cross-border connectivity infrastructure projects.

On 31 August, CEO Wang and senior management from multilateral development banks (MDBs) and New Partners discussed collaboration among MDBs and development finance institutions (DFIs) in infrastructure financing during an NDB seminar panel. CEO Wang noted the value of new MDBs for meeting borrowing countries’ urgent demand for sustainable development as well as greater MDB-DFI collaboration to align their policies and standards.

“In recognition of the importance of collaboration, multilateral development banks have intensified their efforts by aligning their practices in areas like environmental and social safeguards, procurement, and anticorruption, and by initiating co-financing platforms,” said CEO Wang.

“I'm excited that MCDF is part of this effort, and I am proud that we're moving quickly and deeply into it,” CEO Wang continued. He highlighted the steady growth of MCDF connectivity project preparation grants and information sharing and capacity building activities with IFIs, New Partners, and other stakeholders.

CEO Wang and MCDF Senior Advisor to the CEO Mr. Ayumi Konishi provided an update on MCDF and its partners’ broader information sharing, capacity building, and project preparation work during bilateral meetings with country delegation senior officials. Among them included H.E. Dr. Rania Al-Mashat, Egypt’s Minister of Planning, Economic Development, and International Cooperation, Ambassador Tatiana Rosito, Secretary of International Affairs at the Ministry of Finance of Brazil, and Mr. Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division of the Ministry of Finance of Bangladesh.

CEO Wang and Mr. Konishi also met with Mr. Vladimir Kazbekov, NDB Vice President and Chief Operating Officer; Ms. Bajabulile Swazi Tshabalala, African Development Bank Senior Vice President, and representatives from the Brazilian Development Bank, Development Bank of South Africa, Eastern and Southern African Trade and Development Bank, India Exim Bank, and National Bank for Financing Infrastructure and Development (India).

H.E. Ms. Dilma Rousseff, President, New Development Bank and Mr. Zhongjing Wang, CEO, MCDF

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, Egypt and Mr. Zhongjing Wang, CEO, MCDF

Mr. Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division, Ministry of Finance, Bangladesh and Mr. Zhongjing Wang, CEO, MCDF

Ms. Bajabulile Swazi Tshabalala, Senior Vice President, African Development Bank and Mr. Zhongjing Wang, CEO, MCDF

Mr. Vladimir Kazbekov, Vice President and Chief Operating Officer, NDB and Mr. Zhongjing Wang, CEO, MCDF

Ms. Mary Kamari, Executive Director, Trade & Development Fund and Mr. Ayumi Konishi, Senior Advisor to the CEO, MCDF

(Right to Left) Mr. T.D Sivakumar, Chief General Manager and Mr. Shyamasish Acharya, Assistant General Manager and Resident Representative, Export-Import Bank of India, and Mr. Ayumi Konishi, Senior Advisor to the CEO, MCDF