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      Question

      With reference to the New Development Bank (NDB),

      consider the following statements: 1. The NDB was established by BRICS nations in 2015 and is headquartered in Shanghai. 2. As of 2025, Colombia and Uzbekistan have joined the NDB, raising its total membership to 11 countries. 3. The NDB’s primary focus is funding infrastructure and sustainable development projects in developed economies. Which of the statements given above is/are correct?
      A 1 and 2 only Correct Answer Incorrect Answer
      B 2 and 3 only Correct Answer Incorrect Answer
      C 1 and 3 only Correct Answer Incorrect Answer
      D 1, 2 and 3 Correct Answer Incorrect Answer
      E 1 only Correct Answer Incorrect Answer

      Solution

      • Statement 1 is correct: The New Development Bank (NDB) was set up in 2015 by BRICS nations (Brazil, Russia, India, China, and South Africa) and is headquartered in Shanghai, China. • Statement 2 is correct: With Colombia and Uzbekistan joining in 2025, the NDB now has 11 member countries (India, Brazil, Russia, China, South Africa, Bangladesh, UAE, Egypt, Algeria, Colombia, and Uzbekistan). • Statement 3 is incorrect: The NDB focuses on emerging economies, not developed ones, and supports projects in clean energy, transport, sanitation, digital infrastructure, and sustainable development. Thus, the correct answer is (a) 1 and 2 only

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