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New Development Bank Headquarters Starts Construction at World Expo Park in Pudong

    On September 2, the ground was broken for the construction of the New Development Bank (NDB) headquarters. Xiao Jie, minister of finance, Ying Yong, mayor of Shanghai, and K. V. Kamath, president of the NDB, attended the ground-breaking ceremony, who, together with the representatives of the BRICS countries, broke ground for the project.

    In his remarks, Xiao Jie said the state leaders of China have shown great care for and attached great importance to the preparations and development of the bank. He hoped that the bank will, on the basis of what has been achieved in the past two years, focus on its future development, continually innovate operational models and provide better and highly efficient service for its clients, and that the project contractors will deliver a high-quality building.

    Ying Yong said in his speech that the NDB is an important result of the practical cooperation between the BRICS nations and Shanghai, as the banks host city, will fully fulfill its obligations and responsibilities, construct its headquarters from a high starting point and of high level and high quality. Also, the city will, as always in the past, cooperate with the Ministry of Finance and other state departments concerned to provide high-quality service and sound environment for the healthy development of the bank. He expected the bank to introduce more new measures and achieve new growth and breakthrough and make new contribution to Shanghais development and to deeper and wider cooperation and exchange between the BRICS countries and the developing countries.

    K. V. Kamath expressed appreciation to the BRICS countries, the Chinese government in particular, for their support to the NDB. The bank will, aside from providing financing for the infrastructural construction and sustainable development of the BRICS countries, promote the exchange and sharing of experience between the BRICS countries. He believed the practices and experience of China and Shanghai can be borrowed by many other countries.

    The headquarters of the NDB, the first international financial organization in Shanghai, is located in the Zone A of the World Expo park. The tower, whose design came from world-wide solicitation, embodies a people-centered and green ecology concept and the banks values of "innovation, equality, transparency and sustainable development". When completed, the building, a highly distinguishable structure with an impressive visual image, will be a new landmark by the Huangpu River.