The President of the New Development Bank (NDB), Mr. K. V. Kamath, and the Director-General of the Food and Agriculture Organization of the United Nations (FAO), Professor Graziano da Silva, met at the NDB’s Headquarters in Shanghai to discuss opportunities for joint initiatives in areas of common interest, including rural development, water management and irrigation.
On the occasion, Mr. K. V. Kamath and Professor Graziano da Silva exchanged drafts of a Memorandum of Understanding to establish a framework for cooperation between the NDB and FAO. The Memorandum will be signed and enter into force following the conclusion of internal procedures.
Mr. K.V. Kamath and Professor Graziano agreed to co-organize a knowledge-sharing workshop on the topic of development impact in early 2019 to promote technical exchanges between staff and experts in water management, irrigation, sanitation and related fields. Several other forms of collaboration were also explored, including research and technical cooperation to support the design, monitoring and evaluation of sustainable development and infrastructure projects.
The collaboration between the NDB and FAO will aim to drive progress on their shared objectives of growth and development, in particular in light of the 2030 Agenda for Sustainable Development and the role of international organizations in helping countries achieve their Sustainable Development Goals (SDGs).
“Strengthening the collaboration between the NDB and FAO is an important step towards further aligning the activities of our institutions in support of our member countries’ development efforts. This partnership will leverage the development expertise of FAO as a custodian of 21 SDG indicators, within the NDB’s capacity and mandate to mobilize resources for infrastructure and sustainable development projects in emerging and developing economies,” stated Mr. K. V. Kamath.
“In order to achieve SDGs on time – there are less than 12 years left – we need consistent, committed financing. Food and agriculture, water and sanitation, energy and transportation infrastructure can – and must – contribute enormously. This is why FAO is pleased today to join forces with the New Development Bank, so that together we can draw on our combined strengths and deliver tangible results for the countries we support,” stated Professor Graziano da Silva.
The NDB was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development.
FAO is a specialized agency of the UN established in 1945 to lead international efforts to defeat hunger. The goals of FAO are to eradicate hunger, improve nutrition and agricultural productivity, raise the standard of living of rural populations and contribute to the growth of the world economy.
Issued by: The New development Bank
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