Formation of BRICS Bank entails which of the following 1 Emergence of new order of g...........

Economic Affairs Types of Banks and Banking

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Formation of BRICS Bank entails which of the following:

1. Emergence of new order of global governance

2. An economic order free from hegemony of vintage powers structure of World War II.

3. An exclusive economic forum for South-South cooperation

Which of the statements given above is/are correct?

1, 2 and 3

2, 3

1, 2

1, 3

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Explanation:

All the statements are correct.
The New Development Bank, formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states.
According to the Agreement on the NDB, "the Bank shall support public or private projects through loans, guarantees, equity participation and other financial instruments." Moreover, the NDB "shall cooperate with international organizations and other financial entities, and provide technical assistance for projects to be supported by the Bank."