New Development Bank Current Affairs, GK & News

New Development Bank

New Development Bank (NDB) has been established by the BRICS countries to provide financial support to public and private projects via loans, guarantees, equity participation etc. This Shanghai based bank is currently headed by K V Kamath. The logo of the New Development Bank is inspired by Mobius loop / stripwhich symbolizes the idea of continuous ..

BRICS Finance Ministers Meet, 2021

India recently hosted the BRICS Finance Ministers Meet. This was the first BRICS meet under the chairmanship of India in 2021. As 2021 BRICS Chair, India aims to focus on strengthening intra-BRICS cooperation based on continuity, consolidation and consensus. Discussions held at the meet The following discussions were held by the leaders during the meet: ..

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NDB to invest $100 Million into NIIF Fund of Funds

The New Development Bank (NDB) has announced to invest $100 million into the NIIF Fund of Funds (FoF). Highlights With the NDB’s investment of $100 million, the NIIF FoF has now secured $800 million in commitments. NDB has joined the Asian Infrastructure Investment Bank (AIIB), Government of India (GoI) and Asian Development Bank (ADB) as ..

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India-New Development Bank sign 500 million USD agreement

On November 19, 2020, India and the New Development Bank signed an agreement of 500 million USD. Under the agreement, the New Development Bank is to lend the funds to implement Delhi- Ghaziabad-Meerut Regional Rapid Transit System project. The funds will be used to provide reliable, fast, safe and comfortable public transport system in the ..

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BRICS Business Forum held: Key Facts

The BRICS Business Forum was held recently through video conferencing. The BRICS Business council held the forum. The council was formed in 2013 summit in Durban. Since its establishment, the primary task of BRICS Business council is to increase trade and investment among the member countries of BRICS. Highlights Russia chaired the meet as it ..

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India attends 6th BRICS Parliamentary Forum

On October 27, 2020, Indian Parliamentary delegation under the leadership of Lok Sabha speaker Om Birla attended the sixth BRICS Parliamentary Forum. It was chaired by the Chairman of State Duma of the Federal Assembly of Russia. The speakers and members of other BRICS parliaments such as Brazil, China and South Africa participated in the ..

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