New Development Bank

Sovereign governments and sub-sovereign entities within member countries propose projects directly to NDB, often through national designated authorities. The bank does not run a competitive auction process or seed rounds. Instead, it evaluates unsolicited proposals against its internal ESG framework, co-financing potential, and the borrowing country's debt sustainability analysis.

NDB provides sovereign-backed loans, sovereign-guaranteed loans, and occasionally equity investments in infrastructure platforms. It does not manage LP fund commitments or venture capital vehicles. The bank funds itself by issuing bonds in international and local capital markets, targeting currencies including the US dollar, euro, and Chinese renminbi.

The bank's mandate excludes direct private-equity buyouts, venture capital, hedge fund seeding, and fossil-fuel projects that lack a clear transition pathway. NDB's published environmental and social framework prohibits financing projects involving forced resettlement without adequate compensation or those that significantly degrade critical natural habitats.

NDB co-finances with other multilateral development banks and national development-finance institutions, not with private-sector general partners in a fund-investor model. Its published co-financing partners include the Asian Development Bank and the World Bank on sovereign transactions, but it has no disclosed LP interests in third-party private-equity or venture funds.