New Development Bank (NDB) Explained
The New Development Bank (NDB) is a multilateral development bank established by the BRICS countries to fund infrastructure and sustainable development projects.
The New Development Bank (NDB) is a multilateral development bank established by the BRICS countries to fund infrastructure and sustainable development projects.
Origin and headquarters
Set up by Brazil, Russia, India, China and South Africa, the NDB is headquartered in Shanghai and has expanded its membership over time.
Purpose
It aims to mobilise resources for infrastructure and sustainable development in BRICS and other emerging economies, offering an alternative to Western-led institutions.
Why it matters for UPSC
The NDB's BRICS origin and Shanghai headquarters are commonly tested IR and economy facts.
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Who established the New Development Bank?
The BRICS countries — Brazil, Russia, India, China and South Africa.
Where is the NDB headquartered?
In Shanghai, China.