New Development Bank
- The five founding BRICS countries established the New Development Bank
- NDB finances infrastructure and sustainable development in emerging and developing economies
- NDB membership is open to UN members as borrowers or non-borrowers
- The NDB headquarters is in Shanghai
- NDB voting power follows subscribed shares
- NDB capital increases must preserve the founders’ collective voting floor
- NDB governors retain core powers over membership and capital
- NDB directors direct general operations under delegated authority