GK
WORLD ORGANISATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The BRICS Bank would have its headquarter in-
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India
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Russia
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China
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South Africa
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Explanation:
Detailed explanation-1: -The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states (Brazil, Russia, India, China and South Africa). The bank is headquartered in Shanghai, China.
Detailed explanation-2: -The five founding members of the Bank include Brazil, Russia, India, China and South Africa. Bank’s Articles of Agreement specify that all members of the United Nations could be members of the bank, however the share of the BRICS nations can never be less than 55% of voting power.
Detailed explanation-3: -South Africa to host 15th BRICS summit at Durban in late August 2023 | Business Standard News.
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