The bank set up by BRICS countries to support and foster infrastructure and sustainable development, that is called New Development Bank [NDB]. It is located at:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Shanghai, China
The New Development Bank (NDB) was set up by the five BRICS countries (Brazil, Russia, India, China and South Africa) under an agreement signed at the Fortaleza summit in 2014. It lends for infrastructure and sustainable development, and has its headquarters in Shanghai, China. Its first president was K. V. Kamath of India.