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The National Bank for Financing Infrastructure and Development (NaBFID) has signed a Memorandum of Understanding (MoU) with the New Development Bank (NDB) to advance infrastructure financing in India, with a focus on clean energy and sustainable projects.

NDB, a multilateral development bank established by BRICS countries, aims to mobilise resources for infrastructure and sustainable development in emerging markets. The partnership will bridge the financing gap and explore long-term collaborations, including technical expertise exchange.

The MoU sets the stage for joint efforts in clean energy, transportation, and water management projects. It also includes research, capacity-building initiatives, and knowledge-sharing activities.

NaBFID's MD Rajkiran Rai G expressed confidence that the partnership will accelerate financing for clean energy and social impact projects, creating long-term value. NDB's Vice President Vladimir Kazbekov highlighted the shared vision for sustainable and inclusive development.