Shanghai-headquartered New Development Bank (NDB) of the BRICS countries has appointed former bureaucrat Dr D J Pandian as the Director-General of its India Regional Office in Gujarat International Finance Tec-City (GIFT City).
Last month, the NDB had announced plans to set up IRO in the Gift city. 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, the bank quoted Pandian as saying in a press release.
The establishment of the IRO is an important milestone for NDB 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 the other four founding countries – South Africa, Brazil, Russia and India (BRICS).
Pandian earlier served as the Vice President and Chief Investment Officer of the Beijing-based Asia Infrastructure Investment Bank (AIIB) in which India is the 2nd largest shareholder after China.
He was succeeded by former RBI Governor Urjit Patel in January. During his tenure at the AIIB, he was instrumental in securing USD 6.7 billion in funding for 28 projects in India, stated to be the highest project finance extended by the bank.
A retired IAS officer, Pandian had also served as Chief Secretary of Gujarat. He was instrumental in establishing the Gujarat Energy Research and Management Institute and served as chairman and director.