Consider the following statements 1 The New Development Bank was agreed to by BRICS l...........

International Affairs International Institutions

Consider the following statements:

1. The New Development Bank was agreed to by BRICS leaders at the 5th BRICS summit held in Fortaleza, Brazil

2. New Development Bank each participant country will be assigned one vote, and all of the countries will have veto power.

Codes:

1 only

2 only

Both 1 &2

Neither 1 nor 2

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Explanation:

Both the statements are incorrect.
1st statement is incorrect because 5th BRICS summit held in South Africa.
2nd statement is incorrect. The Agreement on the NDB specifies that the voting power of each member will be equal to the number of its subscribed shares in the capital stock of the bank.