NDB, DBSA to establish framework for cooperation
The multilateral New Development Bank (NDB) and the Development Bank of Southern Africa (DBSA) have signed a memorandum of understanding (MoU) on general cooperation to formalise a framework of cooperation between the two organisations to promote initiatives that foster cooperation in areas of common interest in accordance with the respective mandates and strategies.
NDB president Kundapur Vaman Kamath and DBSA CEO Patrick Dlamini signed the MoU in Shanghai, in China, on Monday.
The MoU outlines the main areas of cooperation between the NDB and DBSA, including, but not limited to, operational and treasury management cooperation, as well as the exchange of experience and knowledge sharing.
“I am pleased to sign the MoU between the NDB and DBSA. Together, we will work to explore opportunities for investing in and co-financing projects and further strengthening the impact and quality of our products and services,” Kamath said.
Partnerships with key national and global institutions are important for the NDB, he added.
“The DBSA looks forward to working with the NDB. This partnership is in line with our strategy of leveraging the strengths of multilateral development finance institutions from across the globe in pursuit of our development mandate in Africa,” Dlamini commented.
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