New Development Bank — India project approvals

The New Development Bank (NDB), headquartered in Shanghai, was established by BRICS in 2015 as an alternative to the World Bank and IMF. India is a founding shareholder. As of the 2026 New Delhi Summit, NDB has approved $32 billion+ across 96 projects globally. India is the single largest recipient: 32 projects worth $9.5 billion covering metro rail, highways, urban infrastructure, renewable energy, and water supply. NDB's local-currency lending stands at ~22% vs. a 30% target. India ratifies NDB loans in rupees, reducing currency risk. Key India projects funded: Mumbai Metro Lines 2A/2B/7, Nagpur Metro, Pune Ring Road, Kaleshwaram Irrigation Project.