News Snapshot:
The founding of the New Development Bank (NDB) by the BRICS nations was an “act of great foresight” by the leaders of the five-member bloc as it is important to meet the infrastructure financing needs of the developing countries, Indian ambassador to China, Vikram Misri, has said. “The importance of NDB is in meeting infrastructure financing needs of developing countries,” Misri said. Headquartered in China’s financial capital, Shanghai, the NDB was established by Brazil, Russia, India, China and South Africa (BRICS) in 2015 to mobilise resources for infrastructure and sustainable development projects in the group and developing countries “The bank’s...
