New Development Bank approves Bangladesh as new member

New Development Bank approves Bangladesh as new member

Daily Current Affairs / New Development Bank approves Bangladesh as new member

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Category : International Published on: September 03 2021

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· The New Development Bank (NDB), established by the BRICS ((Brazil, Russia, India, China and South Africa) countries in 2015, has approved Bangladesh as its new member.

· The NDB Board of Governors began talks to expand its membership in 2020.

· It has now approved the United Arab Emirates, Uruguay and Bangladesh as its first new member states.

· After approval of the Board, the country is required to complete its domestic processes and deposit the instrument of accession.

Important facts:

About New Development Bank

v Headquarters location: Shanghai, China

v Founder: BRICS

v Founded: 15 July 2014, Fortaleza, State of Ceará, Brazil

v Leader: Marcos Prado Troyjo

v Parent organization: BRICS

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