With reference to the New Development Bank (NDB), consider the following statements: 1. The NDB was established in 2015 by the BRICS countries—Brazil, Russia, India, China, and South Africa. 2. The NDB’s membership is limited strictly to the five founding BRICS nations. 3. The NDB’s primary purpose is to mobilize resources for infrastructure and sustainable development projects in emerging markets and developing countries. Which of the statements given above is/are correct? |ForumIAS

[A] 1 only

[B] 1 and 3 only

[C] 2 and 3 only

[D] 1, 2 and 3

Answer: B

Notes:

Explanation:

Statement 1: Correct. The New Development Bank (NDB) was established in 2015 by the five BRICS countries—Brazil, Russia, India, China, and South Africa.
Statement 2: Incorrect. Although initially founded by the BRICS countries, NDB’s membership has expanded beyond them and is open to all United Nations members, including countries like Bangladesh, UAE, Egypt, Algeria, and prospective members like Uruguay.
Statement 3: Correct. The NDB’s main goal is to mobilize resources for infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs).

Source- TH

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