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Question : 68 of 150
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Solution:
- Headquater of New Development Bank situated is located in Shanghai, China.
- It is also known as BRICS Development Bank.
- K.V.Kamath is the current president of New Development Bank.
- It was established with an objective of funding infrastructures projects in developing countries.
- It was established in 2014 when BRICS Summit was held in State of Ceará, Brazil.
- BRICS is an association of five major economies of world- Brazil, Russia, India, China and, South Africa.
- BRICS was mainly formed to counter the hegemony of USA.
- BRICS headquater is also situated in Shanghai, China.
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