Established : 2015
Headquarter : Shanghai, China
The NDB is a Multilateral Development Bank established by Brazil, Russia, India, China and South Africa with the objective of financing infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, complementing the efforts of multilateral and regional financial institutions toward global growth and development.
Member of New Development Bank
The New Development Bank shall have an initial subscribed capital of US$ 50 billion and an initial authorized capital of US$ 100 billion. The initial subscribed capital shall be equally distributed amongst the founding members. The voting power of each member shall equal its subscribed shares in the capital stock of the Bank
President of NDB
the Board of Governors elects a President from one of the founding member countries on a rotational basis. K. V. Kamath, from India, is the first elected president of the NDB.
Sources : NDB