New Development Bank (NDB) and BRICS Financial Architecture
The NDB (originally "BRICS Bank") was established in 2015 by the five founding BRICS members to mobilise resources for infrastructure and sustainable development projects in BRICS and other emerging economies, positioned as an alternative to Bretton Woods institutions like the World Bank and IMF. It is headquartered in Shanghai, with a regional office in India (Gujarat International Finance Tec-City, Gandhinagar). Capital is shared equally among founding members and each founding member holds one vote, with no member holding veto power — a structural contrast to IMF/World Bank voting-share models.
- Established 2015; headquartered in Shanghai; India regional office in GIFT City, Gandhinagar.
- Membership has expanded beyond the original five to include Bangladesh, Egypt, UAE, and others.
- Equal capital contribution and one-vote-per-founding-member structure, unlike IMF/World Bank.
● Tracked since August 19, 2026 · last seen September 12, 2026 · updates as the daily brief publishes
See it in today’s brief.
Daily current affairs with every static concept explained in place.
Read the daily brief