{"id":11910,"date":"2025-10-19T13:10:26","date_gmt":"2025-10-19T07:40:26","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=11910"},"modified":"2025-10-24T17:43:11","modified_gmt":"2025-10-24T12:13:11","slug":"new-development-bank-ndb","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/new-development-bank-ndb\/","title":{"rendered":"New Development Bank (NDB)"},"content":{"rendered":"<h2><b>New Development Bank Latest News<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Pakistan has sought the help of China, which it considers an &#8220;iron friend&#8221;, to get a membership of the Brics Development Bank.<\/span><\/p>\n<h2><b>About New Development Bank\u00a0<\/b><\/h2>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The New Development Bank (NDB), formerly known as the BRICS Development Bank, is a <\/span><b>multilateral development bank established by Brazil, Russia, India, China, and South Africa (BRICS).<\/b><\/li>\n<li style=\"text-align: justify;\"><b>Objective<\/b><span style=\"font-weight: 400;\">: NDB aims to mobilize resources for infrastructure and <\/span><b>sustainable development projects in BRICS countries and other emerging economies and developing countries.<\/b><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The idea of setting up NDB was first conceived in 2012 during the BRICS Summit in New Delhi, India.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The agreement for establishing the NDB was signed during the BRICS Summit held in Fortaleza on July 15, 2014, and the Bank <\/span><b>started operations on July 21, 2015.<\/b><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The bank is <\/span><b>headquartered in Shanghai, China,<\/b><span style=\"font-weight: 400;\"> with <\/span><b>regional offices in South Africa and Brazil.<\/b><\/li>\n<li style=\"text-align: justify;\"><b>Membership <\/b><span style=\"font-weight: 400;\">in NDB is <\/span><b>open to any member of the United Nations.<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-weight: 400;\">NDB\u2019s<\/span> <span style=\"font-weight: 400;\">key areas of operation include clean energy and energy efficiency; transport infrastructure; water and sanitation; environmental protection; social infrastructure; and digital infrastructure.\u00a0<\/span><\/li>\n<li style=\"text-align: justify;\"><b>Capital<\/b><span style=\"font-weight: 400;\">: The NDB has an <\/span><b>initial authorized capital of USD 100 billion<\/b><span style=\"font-weight: 400;\"> and an <\/span><b>initial subscribed capital of USD 50 billion, <\/b><span style=\"font-weight: 400;\">which was <\/span><b>equally distributed among the five founding members (Brazil, Russia, India, China, and South Africa).\u00a0<\/b><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Unlike in the case of the World Bank or ADB, <\/span><b>each member<\/b><span style=\"font-weight: 400;\"> in the NDB has an <\/span><b>equal voting power.<\/b><\/li>\n<li style=\"text-align: justify;\"><b>Governance Structure:<\/b>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The Bank is governed by a <\/span><b>Board of Governors made up of the finance ministers <\/b><span style=\"font-weight: 400;\">of the five BRICS countries, and a Board of Directors.<\/span><\/li>\n<li style=\"text-align: justify;\"><b>Both the presidency and vice-presidency<\/b><span style=\"font-weight: 400;\"> of the NDB are <\/span><b>rotated among BRICS founding members<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b>Source<\/b><span style=\"font-weight: 400;\">: <\/span><a href=\"https:\/\/www.indiatoday.in\/world\/story\/pakistan-seeks-iron-brother-china-help-to-join-india-co-founded-brics-bank-us-meeting-finance-minister-2804850-2025-10-17\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">IT<\/span><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Development Bank (NDB) is a multilateral development bank established by Brazil, Russia, India, China, and South Africa (BRICS).<\/p>\n","protected":false},"author":5,"featured_media":69984,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[3329,21,22,23],"class_list":{"0":"post-11910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"tag-new-development-bank","9":"tag-prelims-pointers","10":"tag-upsc-current-affairs","11":"tag-upsc-prelims-current-affairs","12":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/11910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=11910"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/11910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/69984"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=11910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=11910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=11910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}