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Home - New Development Bank

The New Development Bank (NDB) finances projects and innovates tailored solutions to help build a more inclusive, resilient, and sustainable future for the planet. Multilateral development bank of the BRICS states. The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states (Brazil, Russia, India, China and South Africa). According to the Agreement on the NDB, "the Bank shall support public or private projects through loans, guarantees, equity participation and other financial instruments." Moreover, the NDB "shall cooperate with international organizations and other financial entities, and provide technical assistance for projects to be supported by the Bank."The initial authorized capital of the bank is $100 billion divided into 1 million shares having a par value of $100,000 each. The initial subscribed capital of the NDB is $50 billion divided into paid-in shares ($10 billion) and callable shares ($40 billion). The initial subscribed capital of the bank was equally distributed among the founding members (Brazil, Russia, India, People’s Republic of China, South Africa). The Agreement on the NDB specifies that every member will have one vote and that no member would have any veto powers .The bank is headquartered in Shanghai, China. https://en.wikipedia.org/wiki/Ndb.int
Categories: Business, Finance and Banking
Topics: brics bank, kv kamath, ndb, ndb bank, new development bank

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