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Which bank has been established in China by BRICS countries?

A
  

New Industrial Development Bank

B
  

New Agricultural Development Bank

C
  

New Development Bank

D
  

New Commercial Bank

Correct Answer: C

New Development Bank

  • The BRICS countries established the New Development Bank (NDB) to finance infrastructure and sustainable development projects.
  • The New Development Bank was founded by the BRICS nations—Brazil, Russia, India, China, and South Africa.
  • It was officially established in 2014 during the BRICS Summit held in Brazil.
  • The bank's headquarters is located in Shanghai, China.
  • The main objective of the bank is to support infrastructure and development projects in BRICS and other developing countries.
  • The first President of the New Development Bank (NDB) was K. V. Kamath from India.
  • It promotes economic cooperation and sustainable growth among member countries.
  • The bank provides loans and financial assistance for projects related to transport, energy, water, and urban development.

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