Sign In
Learn bits
Economy
Mahesh

20/05/22 08:45 AM IST

7th Annual Meeting of Board of Governors of New Development Bank

In News 
  • Union Minister of Finance & Corporate Affairs and India’s Governor for the New Development Bank (NDB), Smt. Nirmala Sitharaman chaired the 7th Annual Meeting of Board of Governors of NDB through video-conference in New Delhi.
  • Theme- "NDB: Optimising Development Impact”.
About NDB 
  • NDB is a multilateral development bank, set up by the BRICS countries (Brazil, Russia, India, China, and South Africa) in 2014 with the objective of mobilizing resources for infrastructure and sustainable development projects in the BRICS as well as other EMDCs of the world.
  • The Bank was operationalised in 2015, with its Headquarters in Shanghai, China.
  • Last year, NDB has expanded its membership to include four countries namely, Bangladesh, UEA, Egypt and Uruguay. 
  • NDB has so far approved 21 projects of India for an amount of $7.1 billion.
Source-PIB 

More Related Current Affairs View All

25 Sep

Dengue cases around the world

'As cities across India report a surge in dengue cases, a record number of cases have been reported around the world this year with Brazil and other South American countries worst

Read More

25 Sep

The NCrF as a framework for well-rounded education

'Cognitive inconsistency and axiomatic irrationality become evident when a few put forth the view that the spirit behind and the structural reforms advocated by the National Educat

Read More

24 Sep

Leveraging transit-oriented development to build productive cities

'Indian cities are on the brink of a transportation revolution, with a projected expenditure of ?3 trillion (between 2022–2027) set to be spent on approved metro rail project

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps