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New Development Bank approves UAE, Bangladesh and Uruguay as a new member

Sumit Arora Published On September 3rd, 2021 Leave a comment

The Shanghai-based New Development Bank (NDB) has approved the United Arab Emirates, Uruguay and Bangladesh as its new member countries. In 2020, the NDB Board of Governors initiated the negotiation to expand its membership. As a result UAE, Uruguay and Bangladesh have been admitted as the first new member countries of the NDB.

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NDB was established by the BRICS (Brazil, Russia, India, China and South Africa) countries in 2015. The bank supports public or private projects through loans, guarantees, equity participation and other financial instruments.

Important takeaways for all competitive exams:

New Development Bank Headquarter: Shanghai, China;
New Development Bank President: Marcos Prado Troyjo;
New Development Bank Founder: BRICS;
New Development Bank Founded: 15 July 2014.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.