CRA of NDB: Uses & contribution
Q. Which of the following statements is/are correct about Contingent Reserve Arrangement (CRA) of NDB?
1. Other countries beside BRICS can become member of Contingent Reserve Arrangement (CRA) of NDB.
2. All BRICS countries will share equally to CRA.- Published on 17 Nov 15a. Only 1
b. Only 2
c. Both
d. None
ANSWER: Only 1
- CRA fund will consist of $10 billion of "paid-in capital" ($2 billion from each member to be provided over seven years) and an additional $40 billion to be "paid upon request".
- Out of the total initial capital of $100 billion, China will contribute $41 billion, Brazil, Russia and India would give $18 billion each, and South Africa would contribute $5 billion.
