• Egypt is the latest nation to join the NDB. Bangladesh, UAE and Uruguay had joined in September 2021.
• NDB is a multilateral development bank jointly founded by the BRICS countries at the 6th BRICS Summit in Fortaleza, Brazil in 2014. It aims to mobilise resources for infrastructure and sustainable development projects in emerging economies in areas such as transport, water and sanitation, clean energy, digital infrastructure, social infrastructure and urban development.
• The Bank got observer status in the UN General Assembly (UNGA) in 2018. The present members include Brazil, Russia, India, China, South Africa, Bangladesh, United Arab Emirates (UAE) Uruguay and Egypt.

Source: EPIC January 2022