The New Development Bank announced today (Thursday) that it has issued a record three-year green bond worth $1.25 billion, signaling the New Development Bank's return to international capital markets.

The New Development Bank stated that this is the first US dollar green bond issued by the bank, demonstrating its commitment to sustainable capital markets. The net proceeds from the bond issuance will be allocated to financing and refinancing eligible green projects .

The Shanghai-based bank, founded by Brazil, Russia, India, China and South Africa (BRICS) in 2015, aims to mobilize resources for infrastructure and sustainable development projects in BRICS countries and other emerging economies.

In 2021, the New Development Bank began expanding its membership and accepted Bangladesh, Egypt, the United Arab Emirates and Uruguay as new members.