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Question

Difficulty: EasyInternational Relations, Global Summits, and Multilateral Organizations

The New Development Bank (NDB), established by the BRICS group of nations to mobilize resources for infrastructure and sustainable development projects in emerging economies, has its headquarters located in which of the following cities?

  1. A
    Beijing
  2. ShanghaiAnswer
  3. C
    New Delhi
  4. D
    Geneva

Answer

Shanghai
The New Development Bank (NDB) was formally established under the Fortaleza Agreement signed during the 6th BRICS Summit in 2014. The treaty stipulated Shanghai, China, as the official headquarters of the institution.

Step-by-Step Solution

1
Identify the multilateral financial institution created by the BRICS alliance
The institution is the New Development Bank (NDB), agreed upon during the 6th BRICS Summit in Fortaleza (2014).
Establishing the target organization helps trace its founding secretariat and permanent headquarters.
2
Recall the designated permanent headquarters city for the NDB
The agreement specified Shanghai, China, as the permanent headquarters of the New Development Bank.
Connecting international organizations to their headquarters is a core requirement of multilateral awareness.

Key Concept

Headquarters of Multilateral Development Banks
Estimated Time:45s
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Topics

International Relations, Global Summits, and Multilateral Organizations