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Marcos Troyjo replaces India’s Kundapur Vaman Kamath as the next President of the New Development Bank, an international organization jointly founded by the BRICS countries with its headquarters in Shanghai, from July 7, 2020.
Kamath was the first President of the NDB, which is in operations since July 2015 and his term ends this year. The bank has the mandate of mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development.
On May 27, 2020, the Board of Governors of the bank unanimously elected him as the President of the NDB, in full accordance with the Articles of Agreement of the NDB and its procedures.
According to 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 rotational basis. The President is the chief of the operating staff of the Bank, conducting, under the direction of the Directors, the ordinary business of the NDB.
Prior to his appointment as President of the New Development Bank or BRICS Bank, Marcos Troyjo pursued a successful multi-layered career in government, business, academia and the public debate on economic development.
He recently served as Brazil’s Deputy Economy Minister and Special Secretary for Foreign Trade and International Affairs and represented the Brazilian Government on the boards of multilateral development institutions.
Troyjo was also Chairman of Brazil’s Commission on External Financing and its National Investment Committee.
He co-founded and served as Director of the BRICLab at Columbia University, where he taught international and public affairs, and lectured extensively at universities and research centers around the world.
Troyjo is a member of the World Economic Forum (WEF) Global Future Council on International Trade and Investment. He was Director of the Intelligent Tech & Trade Initiative (ITTI).
An economist, political scientist and diplomat, he holds a Master’s degree and a PhD in sociology of international relations from the University of São Paulo and pursued postdoctoral studies at Columbia University. He is an alumnus of the Rio Branco Institute, the diplomatic academy of Brazil’s Ministry of Foreign Affairs.
Troyjo authors books on development, technology and global affairs.
– Source of Information: New Development Bank