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TNPSC Current Affairs | TNPSC Monthly Current Affairs
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12, May 2024
TNPSC Group I Topper Corner
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International News

New Development Bank - new members

September 5 , 2021 980 days 878 0
  • 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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