NDB established India Regional Office in Gujarat International Finance Tec-City, appointed IRO Director General

On June 20, 2022, the New Development Bank (NDB) announced the appointment of Dr. DJ Pandian as the Director General heading the Bank’s Indian Regional Office (IRO) in Gujarat International Finance Tec-City (GIFT City).

Dr. DJ Pandian is the former Vice President and Chief Investment Officer at Asian Infrastructure Investment Bank. Dr. Pandian has an extensive career spanning 30 years with the Indian Administrative Services, holding key positions at the State, National, and International levels. During his career, he has served in the Government of Gujarat in various capacities. Dr. Pandian established the Gujarat Energy Research and Management Institute and has served as chairman, director and trustee with a number of state-owned enterprises.

“The NDB has approved 20 projects in India for about USD 7.2. billion. The IRO will support the effective and efficient implementation of these projects and work closely with Project Implementation Agencies on achieving desired project outcomes. IRO will also play an important role in preparing new projects and assisting government institutions in capacity building and in providing technical assistance,” said Dr. DJ Pandian

The establishment of the India Regional Office is an important milestone for the Bank as it marks the fulfilment of a commitment made by the founders of the Bank in setting up regional offices, beyond headquarters, in each of our other four founding countries – South Africa, Brazil, Russia and India, he added.

The IRO will work closely with the Government, public and private sector agencies, and other relevant stakeholders in the Indian sub-continent to identify projects that have strong development impact and which are aligned with the national development priorities.

Background information

New Development Bank was established with the purpose of mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries, complementing the efforts of multilateral and regional financial institutions for global growth and development.

The Agreement Between the New Development Bank and the Government of the Republic of India on the Hosting of the New Development Bank India Regional Office in the Republic of India was signed by Mr. Marcos Troyjo, the President of the New Development Bank and Mr. Tarun Bajaj, Secretary, Economic Affairs, Government of India on 11 December 2020.