National Development Bank

Board of governors at NDB unanimously elected former Brazilian President Mrs. Dilma Vana Rousseff as its new President.

About New Development Bank

• It is a multilateral development bank established by BRICS as per agreement signed during the sixth BRICS Summit in Fortaleza (2014).
  • Bank started operations in 2015.
• HQ- Shanghai
• Objective: To mobilise resources for infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs).
• Members: Brazil, Russia, India, China, South Africa, Bangladesh, United Arab Emirates and Egypt.
• Regional office: Africa Regional Center (ARC) in Johannesburg; Americas Regional Office (ARO) in São Paulo; Eurasian Regional Centre (ERC) in Moscow; India Regional Office in Gujarat International Finance Tec-City (GIFT City).