BRICS Bank Current Affairs, GK & News

BRICS Bank: Which is the new member?

December 30, 2021

On December 29, 2021, the BRICS New Development Bank (NDB) announced to add Egypt as its new member. Key Points Egypt is the fourth new member admitted into NDB, following Bangladesh, United Arab Emirates (UAE) and Uruguay. Inclusion of Egypt has further expanded the global outreach of BRICS Bank. How this move will benefit Egypt? ..

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India attends New Development Bank Governors meet

May 28, 2020

On May 27, 2020, Finance Minister Nirmala Sitaraman attended the Special Board of Governors meet of New Development bank through video conference. Highlights The leaders that attended the meet elected the president, vice president of new development bank. The bank has so far approved 16.6 billion USD to over 55 projects in its member countries. ..

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11th BRICS Summit

November 15, 2019

PM Modi attended the 11th BRICS summit and invited business leaders from BRICS nations to invest in India, especially in infrastructure development. Highlights of the summit The BRICS countries discussed in creating a common crypto currency for mutual payments. The step was being discussed to reduce the share of payments in USD. PM Modi proposed ..

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Government, NDB ink $350 million loan pact

March 31, 2017

India has signed its first loan agreement with the New Development Bank (NDB)/BRICS Bank for $350 million to be used in the development and upgradation of district roads in Madhya Pradesh. The objective of the project is the upgrade major district roads in Madhya Pradesh to improve road connectivity of the interior areas of the ..

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