Political Science · International Relations
The New Development Bank (NDB) is formally referred to as the:
ABRICS Development Bank ✓ Correct
BWorld Bank
CInternational Monetary Fund
DStructural Adjustment Programme
Correct answer: (A) BRICS Development Bank — The NDB is formally referred to as the BRICS Development Bank, so the answer is that option.
Explanation
★The NDB is formally referred to as the BRICS Development Bank, so the answer is that option.
★It was established by the BRICS countries.
★It was set up at the 2014 BRICS summit in Fortaleza.
★Its headquarters are in Shanghai, China.
★It funds infrastructure and sustainable development projects.
★So the New Development Bank is the BRICS Development Bank.
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