Explanation:

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." The bank is headquartered in Shanghai, China. The first regional office of the NDB is in Johannesburg, South Africa. The bank is headquartered in Shanghai, China.