GENERAL KNOWLEDGE

GK

WORLD ORGANISATIONS

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which one of the following was a major decision taken at the fifth BRICS summit held recently?

A	Establishment of a new development bank
B	Reformation of the United Nations
C	Common Military exercise
D	Cultural exchange among the BRICS countries

Explanation:

Detailed explanation-1: -At the fifth BRICS summit in Durban (2013), the leaders agreed on the feasibility of establishing the New Development Bank and made the decision to do so. During the sixth BRICS Summit in Fortaleza (2014), the leaders signed the Agreement establishing the New Development Bank (NDB).

Detailed explanation-2: -This includes 18 projects of India worth USD 6.9 billion. NDB funds projects in areas such as sustainable infrastructure, clean energy, social safety, public health, education, water, sanitation and flood protection, renewable and green energy, transport, infrastructure, irrigation, agriculture, smart cities etc.

Detailed explanation-3: -South Africa hosted the fifth BRICS Summit from 26 to 27 March 2013 at the Durban International Convention Centre (ICC). This completed the first cycle of BRICS summits.

There is 1 question to complete.