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New Development Bank

05/11  09:34

The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is multilateral development bank operated by the BRICS states (Brazil, Russia, India, China and South Africa).

The bank headquartered in Shanghai, is aimed at "mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging and developing economies."

The new development bank supplements current regional development banks in infrastructure investment and sustainable development and give a bigger say to BRICS and emerging economies in international economic fairs.