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New Development Bank - new members
September 5 , 2021
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- New Development Bank by BRICS group of nations has added United Arab Emirates, Uruguay and Bangladesh as its new members.
- New Development Bank was launched in 2015.
- It was launched by the BRICS Members (Brazil, Russia, India, China and South Africa).
- It was formerly referred as “BRICS development bank”.
- It is headquartered in Shanghai.
- The first regional office of the NDB was set up in Johannesburg, South Africa.
- The second regional office was established in 2019 in Brazil, followed by in Russia.
- The bank mobilises resources for infrastructure and sustainable development projects in the member countries as well as in other developing nations.
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