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  1. The BRICS New Development Bank (NDB) has been set up for
    1. Funding infrastructure projects in emerging economics for sustainable development
    2. Funding non-infrastructure projects in emerging economics for sustainable development
    3. Funding infrastructural projects in developed countries
    4. Funding infrastructural projects in BRICS countries only
Correct Option: A

The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, aims to contribute to development plans established nationally through projects that are socially, environmentally and economically sustainable. It promotes infrastructure and sustainable development projects with a significant development impact in member countries.
Note: The New Development Bank, formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states. Headquarters: Shanghai, China President: K. V. Kamath First president: K. V. Kamath Founded: 15 July 2014, Fortaleza, Ceará, Brazil.


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