Governors’ SpeechAddress by Mr. Guilherme Mello, Temporary Alternate Governor for Brazil, Secretary of Economic Policies, Ministry of Finance, Brazil

Opening Ceremony - Topic: Investing in a Sustainable Future

Esteemed Governors, President Rousseff, Vice Presidents, Members of the Board,

It is a great honor to be here today and to participate in this Meeting of the Board of Governors of the New Development Bank. I am grateful for the opportunity to stand alongside such distinguished colleagues, united by the common goal of promoting financial solutions that drive growth in developing and emerging countries.

It is with a profound sense of duty that we begin this discussion on topics that are crucial for the future of our nations and for global well-being. We are at a pivotal moment, in which that challenges faced are indeed complex. It is in this environment that we must, more than ever, strengthen our cooperation and redefine our approaches, placing sustainability and social justice at the heart of our joint actions.

It is becoming increasingly evident that sustainable global investment is not just an option but an urgent requirement. We must accelerate our efforts to ensure that economic development is prime, green, and inclusive. This requires coordinated action between governments, financial institutions, and the private sector. Only through robust collaboration can we promote governance, social justice, and environmental protection-essential pillars for a prosperous and equitable future.

Sustainable global investment is essential to ensure a just and resilient transition towards a global economy capable of addressing current environmental and social challenges. Through the Ecological Transformation Plan, focused on mobilizing resources and investments in renewable energy, biodiversity conservation, and a low-carbon economy that prioritizes social inclusion and sustainable economic development, Brazil is positioning itself at the forefront of global efforts to mitigate climate change and promote a more just and sustainable future for all. Unlocking the potential of public and private capital is a decisive step towards accelerating this transition, especially by strengthening development financial institutions.

Multilateral development banks play a fundamental role in supporting sustainable and inclusive growth in developing countries. In addition to providing essential financing, these institutions act as catalysts, fostering additional resources and mitigating risks associated with large infrastructure projects. With their vast knowledge and experience, multilateral banks not only facilitate the creation of innovative solutions but also help countries overcome the challenges that emerge on the path to sustainable development.

The Brazilian presidency of the G20 has worked vigorously in the formulation of a roadmap of reforms for multilateral development banks, based on three essential pillars. First, to facilitate access to loans, ensuring that the essential needs of countries are met, promoting local currency financing, and implementing guarantees on national platforms. Secondly, to strengthen the financing capacity of multilateral banks so they can respond more effectively to the growing demands of developing countries. Finally, to improve the assessment and utilization of lessons learned, allowing shareholders and private investors to make informed decisions about partnerships with these institutions.

I would like to highlight the essential role that the New Development Bank plays in advancing this sustainable development agenda, particularly in the context of the global challenges we face. As a financial institution born out of BRICS cooperation, the NDB is not just a bank; it is a fundamental pillar in mobilizing the resources needed to drive sustainable development in emerging markets and developing countries. At a time when the climate crisis and global inequalities demand swift and effective responses, the NDB must position itself as a driving force to catalyze the necessary investments to ensure that the transition to a green and inclusive economy occurs efficiently and creates lasting impacts, promoting sustainable development that benefits future generations.

In this context of global urgency, in which the climate crisis and inequalities demand decisive and coordinated actions, it is imperative that we reinforce the role of development financial institutions like the New Development Bank.

I count on the commitment of all, so that together, we can turn these challenges into opportunities, ensuring a more just and prosperous future for all our people.

Thank you.

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