NDB to be operational from China
Q. The New Development Bank (NDB) of BRICS will be operational from which place?- Published on 01 Mar 16
d. South Africa
- The Headquarters Agreement with the Chinese government will officially launch the bank for operations.
- With Africa also one of its focal points, the NDB is set to open an African Regional Centre, headquartered in Johannesburg, by the second half of 2016. It would aim to develop a “project pipeline” for the continent.
- On the eve of its operational launch, the NDB has bagged a AAA institutional rating from domestic credit rating agencies in China.