Technical assistance for projects in India and Russia
BRICS leaders attend the NDB Summit in Brasilia on November 14, 2019 [NDB]
The BRICS New Development Bank (NDB) has moved into technical assistance similar to the mandate of other multilateral development finance institutions such as the International Monetary Fund and the World Bank.
At its board meeting on December 2, 2019, the board approved two technical assistance projects worth $700,000 and three projects with loans aggregating to approximately $937 million, bringing the NDB’s portfolio to 49 projects with loans aggregating to $13.7 billion.
The NDB will provide technical assistance of $300,000 to the Republic of India for Mizoram Tuirini Small Hydro Project. The NDB’s technical assistance will provide consulting services aimed at preparing the Mizoram Tuirini Small Hydro Project.
The project envisages construction of a small hydropower plant with an installed capacity of 24 MW in the state of Mizoram, to increase installed power generation capacity of Mizoram.
The NDB will provide technical assistance of $400,000 to the Russian Federation for Krasnodar Cable Car Project. The NDB’s technical assistance will provide consulting services aimed at preparing the Krasnodar Cable Car Project up to the stage when it can be considered by external financiers to seek approval for its financing.
The project envisages the construction of a cable car network to be used as an alternative public transportation modality in Krasnodar city, Russia to relieve traffic congestion.
The NDB will provide a loan of RMB 2.76 billion (around USD 400 million) to the People’s Republic of China for the Huangshi Modern Tram Project. It will address urban transport connectivity problems in Huangshi, a municipality in the southeastern part of Hubei Province, through the construction of a modern tram network with a total length of 27.33 km.
The components of the Project include: i) laying of tracks, construction of stations and installation of associated facilities for the tram network; ii) procurement of rolling stock; and (iii) consultancy support for commissioning, preparation of operations and maintenance plan, capacity building and project management.
The NDB will provide a loan of $312 million to the Republic of India for the Manipur Water Supply Project. It will address serious challenges in clean drinking water supply in Manipur, a small mountainous state in the northeastern region of India, through construction and upgrade of drinking water supply infrastructure. The components of the Project include construction and upgrade of drinking water supply systems in: i) Imphal Planning Area, the capital city of Manipur; ii) additional 25 towns; and iii) 1,731 rural habitations.
The NDB will provide a loan of $225 million to the Republic of India for the Indore Metro Rail Project. The Project is to implement a metro line of approximately 31 km in the city of Indore. The Project will provide mass rapid transit capacity for the city’s major mobility corridors, thereby contributing to local economic development and an improved urban environment by reducing traffic congestion and pollution.
In 2018, the NDB approved 17 loans totalling about $ 4.6 billion, building on its base of 13 loans worth $ 3.4 billion as of the end of 2017. That brought the total loan book of the bank to 30 projects worth approximately $8 billion by the end of last year.
Helmo Preuss in Pretoria, South Africa for The BRICS Post
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