New Development Bank and Development Bank of Southern Africa sign agreement to establish framework for cooperation
The New Development Bank (NDB) and the Development Bank of Southern Africa (DBSA) have signed a Memorandum of Understanding on General Cooperation.
Mr. K. V. Kamath, the NDB President and Mr. Patrick Dlamini, Chief Executive Officer of the DBSA signed the Memorandum in Shanghai on May 28, 2018.
The objective of the Memorandum is to formalize a framework of cooperation between the NDB and DBSA and to promote initiatives that foster cooperation in areas of common interest in accordance with respective mandates and strategies.
“I am pleased to sign the Memorandum of Understanding between the NDB and DBSA. Together, we will work to explore opportunities for investing in and co-financing projects and further strengthening the impact and quality of our products and services,” said Mr. K. V. Kamath. “We believe that partnerships with key national and global institutions are important for us,” added Mr. K. V. Kamath.
“The DBSA looks forward to working with the NDB. This partnership is in line with our strategy of leveraging the strengths of multilateral development finance institutions from across the globe in pursuit of our development mandate in Africa,” said Mr. Patrick Dlamini.
