BRICS Devel Bank as alt to Washington Consensus
The New Development Bank (NDB), formerly referred to as the BRICS Development Bank,[1] is multilateral development bank operated by the BRICS states (Brazil, Russia, India, China and South Africa) as an alternative to the existing World Bank and International Monetary Fund.[2] The Bank is setup to foster greater financial and development cooperation among the five emerging markets. It will be headquartered in Shanghai, China.[3]Unlike the World Bank, which assigns votes based on capital share, i
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