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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 

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