Multiple Choice Questions on Consider the following statements about the New Development Bank NDB The NDB was proposed as a count........... for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

Consider the following statements about the New Development Bank NDB The NDB was proposed as a count...........

International Affairs International Institutions
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    Consider the following statements about the New Development Bank (NDB):

    1. The NDB was proposed as a counterweight to the Western-led International Monetary Fund and World Bank.
    2. The headquarters of the NDB is located in Brasília, Brazil.
    3. All BRICS countries have an equal share and voting rights in the NDB, regardless of their GDP or economic size.
    4. The primary objective of the NDB is to finance infrastructural and developmental projects exclusively within BRICS countries.

    How many of the above is/are correct ?

    Only One

    Incorrect Answer

    Only Two 

    Correct Answer

    Only Three

    Incorrect Answer

    All Four

    Incorrect Answer
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    Explanation:

    • Correct. One of the reasons for the establishment of the NDB was to provide an alternative to Western-led financial institutions like the IMF and the World Bank.

    • Incorrect. The headquarters of the NDB is located in Shanghai, China.

    • Correct. In the NDB, all BRICS countries have equal shares, and hence equal voting rights, to ensure that no single country has undue influence.

    • Incorrect. While the NDB does focus on financing infrastructural and developmental projects, it is not restricted to funding projects exclusively within BRICS countries. It aims to support other emerging economies and developing countries as well.

    By: Arun Rana
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