ECONOMICS
ECONOMIC INSTITUTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Where is the headquarters of BRICS New Development Bank situated?
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Beijing, China
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Moscow, Russia
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Cape Town, South Africa
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Shanghai, China
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Explanation:
Detailed explanation-1: -The Bank is headquartered in Shanghai, China with regional offices in South Africa and Brazil. Mr.
Detailed explanation-2: -Detailed Solution. The correct answer is Shanghai. The full form of BRICS is Brazil, Russia, India, China, and South Africa.
Detailed explanation-3: -The New Development Bank (NDB) was established in 2015 by BRICS countries – Brazil, Russia, India, China and South Africa. The Bank’s membership is open to members of the United Nations.
Detailed explanation-4: -South Africa to host 15th BRICS summit at Durban in late August 2023 | Business Standard News.
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