The World Bank and the New Development Bank, NDB, set up by five emerging economies have agreed to strengthen cooperation, especially in infrastructure. World Bank President, Jim Yong Kim, and NDB President, K.V. Kamath, signed a memorandum to this effect Friday. The NDB was launched in July last year by the five BRICS nations- Brazil, Russia, India, China and South Africa. The two institutions agreed to co-finance infrastructure projects and exchange information and knowledge on loans. Mr Kamath said, he appreciates the support of the World Bank and looks forward to deepening the cooperation. Mr Kim said, the institutions will work together to support development projects that drive growth.