The New Development Bank (NDB), established by the BRICS countries in 2014, is expected to become an important player in the field of international development cooperation. The NDB’s innovations include the equality-based governance system, prioritizing green infrastructure projects, and the use of innovative financing products such as green bonds denominated in the BRICS national currencies. This chapter is aimed at the understanding of the NDB’s approach toward the concept of “sustainable development” as articulated in the international policies including the Sustainable Development Goals (SDGs), formulated by the United Nations in 2015. It provides an analysis of the environmental and social policies formulated by the NDB as well their initial implementation in the already approved projects.