UPSC CDS GS Economy Questions Part 1

(b) New Development Bank, formerly, referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS States (Brazil, Russia, India, China, South Africa).
The bank is headquartered in Shanghai (China). The first regional office of the NDB is in Johannesburg (South Africa). As Canada is not a member of BRICS, it is not a member of the New Development Bank.