Explanation:

Two instruments of special importance were signed at the VI BRICS Summit (Fortaleza, July 2014): the constituent agreements of the New Development Bank (NDB) – aimed at the financing of infrastructure projects and sustainable development in emerging economies and developing countries – and the Contingent Reserves Arrangement (CRA) – which has the goal of promoting mutual support amongst the BRICS members in situations of instability in the balance of payments. The initial capital subscribed to the NBD was $50 billion and the authorized capital was $100 billion. The resources allocated to the CRA, in turn, will amount to $100 billion.

The New Development Bank (NDB), 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.
The bank is headquartered in Shanghai, China. The first regional office of the NDB is in Johannesburg, South Africa.