…[T]here are still significant concerns regarding transparency, engagement with civil society and the social and environmental safeguards applied to projects…

What type of investments will NDB support?...The projects…renewable-energy projects in India…China…Brazil…South Africa…

What rules will apply? According to the Bank, its projects involve “green and sustainable infrastructure”, but is not clear yet how the Bank defines those concepts and what environmental or social criteria the bank took into consideration during project selection or appraisal. Bank staff have provided contradictory information on whether a social and environmental policy framework has been finalized. No such policy has been made public…The NDB did announce the approval of an Interim Information Disclosure Policy…Unfortunately…it has not yet been disclosed.

Where will the Bank lend? Till now, the NDB has only financed projects within the five BRICS countries…however, officials identified that the Bank will move forward with bringing in new members…

To whom will the Bank lend? Thus far NDB has focused on sovereign-backed loans within the BRICS countries, so in other words, loans to national development banks or other public banks…

 What about civil society?

…[A] criticism raised by many groups is the lack of proper and institutional engagement with civil society… the Bank suffers from critical lack of transparency and has no provisions for meaningful engagement with civil society… there has been no consultation with civil society on these policies…

What’s Next?...

[mentions Eskom]