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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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