Braga, João Pedro;
De Conti, Bruno;
Magacho, Guilherme;
(2022)
The New Development Bank (ndb) as a mission-oriented institution for just ecological transitions : a case study approach to BRICS sustainable infrastructure investment.
Revista Tempo do Mundo
(29)
pp. 139-164.
10.38116/rtm29art5.
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Abstract
The New Development Bank (NDB) has not yet received the attention it deserves in the development community. On the one hand, this lack of attention could be partially explained by its short existence. On the other hand, in its first five years of operations, the bank consolidated itself as a source of development financing in the bloc, claiming originality in the traditional business model of multilateral development banks. In this sense, the research gap on the bank points to a lack of communication between the NDB's claims to originality and its communication with the community involved in development debates. Addressing what is “new to NDB” to consolidate it as a full member of the community, this article analyzes the bank's first operations to understand NDB's possibilities of positioning itself as a mission-oriented institution to finance the ecological transition in the Brics countries by through partnerships with local actors and institutions committed to the notion of public value. To understand these opportunities, this article sheds light on five selected NDB projects and their engagement with local sustainable development agendas. Studying together, the case studies provide important lessons about the bank's approach to achieving originality, but they are not intended to evaluate the entirety of its first five years of operations – which should be addressed by further research. The article concludes by suggesting a mission roadmap for the bank to consider in its corporate strategy. This implies a shift in perspective from its current narrow focus on investment in sustainable infrastructure, towards partnerships with local actors in the BRICS development community. This requires a strong shared commitment to the notions of sustainability and public value by connecting bank operations and country-specific challenges to the ecological transition.
| Type: | Article |
|---|---|
| Title: | The New Development Bank (ndb) as a mission-oriented institution for just ecological transitions : a case study approach to BRICS sustainable infrastructure investment |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.38116/rtm29art5 |
| Publisher version: | https://doi.org/10.38116/rtm29art5 |
| Language: | Portuguese |
| Additional information: | Copyright (c) 2022 Tempo do Mundo Magazine Creative Commons License This work is licensed under a Creative Commons Attribution 4.0 International License . This magazine incorporates texts published by Revista Tempo do Mundo, available under the CC BY 4.0 license. |
| Keywords: | Brics, New Development Bank, ecological transition, infrastructure, development |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Inst for Innovation and Public Purpose |
| URI: | https://discovery-pp.ucl.ac.uk/id/eprint/10179303 |
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