NASDAQ Dubai welcomed the launch of the new development bank's medium-term eurobond (EMTN) program worth $50 billion. This step marks a significant milestone in enhancing the bank's access to global capital markets, reinforcing Dubai's role as a leading international center for sustainable finance and cross-border capital flows. The exchange stated in a press release that the EMTN program provides a flexible and effective framework, enabling the new development bank to issue debt instruments to finance infrastructure and sustainable development projects in member countries, as well as in emerging markets and economies. The bank currently has a $50 billion program listed on the official register of the UK's Financial Conduct Authority and on the London Stock Exchange. Vice President and Head of Financial Affairs at the new development bank, Monali Ratsuma, said: 'The launch of the program on NASDAQ Dubai is a significant milestone for the bank, as it allows us to access a wide and diverse base of investors and raise long-term capital for infrastructure and sustainable development projects in member countries.' In turn, CEO of Dubai Financial Market and NASDAQ Dubai, Hamid Ali, said: 'We are pleased to welcome the new development bank's $50 billion medium-term eurobond program, which plays a pivotal role in supporting sustainable infrastructure across BRICS nations and emerging economies.' It is worth noting that the new development bank was established in 2015 by BRICS countries as a multilateral financial institution dedicated to mobilizing resources for projects that support economic growth, social inclusion, and environmental sustainability. The UAE joined the bank's membership in October 2021 by subscribing for shares amounting to $556 million, which enhanced the bank's financial strength, global reach, and commitment to innovation in sustainable development.
