The New Development Bank (NDB) has initiated a leadership transition process, which occurs in accordance with Bank governance and procedures.
The President of the NDB, Marcos Troyjo, will step down on March 24, 2023. The Board of Governors of the New Development Bank will then elect a new President designated by Brazil, to fulfill the rotating term that expires on July 6, 2025 After the election, the new President will take office.
Marcos Troyjo has been President of the NBD since July 2020 and has been instrumental in the success of the NBD.
During Troyjo’s tenure, the NDB has achieved important milestones. He has driven the initial expansion of the Bank’s membership, strengthened the ESG (Environmental, Social and Governance) Department and established the Independent Evaluation Office. He also directed the transfer of the Bank to its permanent headquarters in Shanghai.
Worked on the conception and implementation of the second General Strategy of the NDB (2022-2026) and on the expansion of the portfolio of projects approved by the Bank, which currently amounts to about USD 32.8 billion since the start of operations of the institution in 2015.
Currently, the NDB has almost 100 projects in member countries, in sectors such as clean energy, transport infrastructure, irrigation, water resources management and sanitation, urban development, social infrastructure and the environmental efficiency.
During Troyjo’s presidency, the NDB completed a $10 billion outlay from its founding members. Under Troyjo’s leadership, the NDB also deepened its green credentials. In 2021, the Bank issued the first Sustainable Development Goals (SDG) bond in China, in collaboration with the United Nations Development Program (UNDP).
The 38th meeting of the Board of Directors of the NDB
During his tenure, Troyjo introduced a new organizational structure geared towards more complex and specialized private sector operations, with a dedicated focus on project portfolio management.
The role and independence of internal audit and compliance were strengthened, a Talent Management Division was created and the NDB India Regional Office launched.
Furthermore, Troyjo significantly raised the public profile of the NDB through multiple interactions with development institutions, think tanks, universities, research centers and conferences in all member countries and beyond.
He launched the NDB THINKLab initiative to promote regular meetings between the Bank’s team and some of the world’s most recognized opinion leaders on development, economics and public policy.
In line with the Bank’s procedures and high governance standards, the election process for the position of President of the NDB is proceeding in a smooth and orderly manner.
Under the Articles of Agreement of the New Development Bank, the NDB Board of Governors elects a President from one of the founding member countries on a rotating basis.
