Information Disclosure & Grievance Mechanisms of the New Development Bank (NDB)
New Development Bank urged to be more transparent about project finance.
The purpose of the New Development Bank (NDB) is 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”. Since the NDB African Regional Centre (ARC) was launched in August 2017, the NDB has approved 9 projects for South Africa (8 projects in South Africa and 1 project in Lesotho) valued
at an estimate USD 3.2 billion.
This paper reviews the local frameworks that relate to projects funded by the NDB in terms of access to information, consultation, and grievance mechanisms. It considers the challenges which face communities and civil society organisations who are concerned about or directly affected by the development projects which are being financed by the NDB.