Economics · International Financial Institutions
Consider the following statements regarding the New Development Bank (NDB): Statement I: Unlike the World Bank, the NDB presidency rotates among the five founding BRICS members every five years. Statement II: The NDB is prohibited by its charter from admitting any new members that are not members of the BRICS political bloc. Statement III: A key feature of NDB lending is the 'Country Systems' approach, relying on the borrowing country's own environmental and social regulations. Statement IV: The authorized capital of the NDB is 100 billion USD, with initial subscribed capital of 50 billion USD divided equally among founding members. Statement V: The NDB has established a Regional Office in Johannesburg, South Africa, and an Indian Regional Office in GIFT City, Gujarat. Which choice identifies the valid assertions regarding the NDB?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only I, III, IV, and V✓
- 2Only IV and V
- 3Only II and III
- 4Only I, II
Correct answer
Only I, III, IV, and V
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