k.v. kamath has been appointed as the first president of brics promoted new development bank.
who has been appointed as the first president of brics promoted new development bank?
k.v. kamath
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the new development bank (ndb), formerly referred to as the brics development bank, is a multilateral development bank operated by the brics states. the bank's primary focus of lending will be infrastructure projects with authorized lending of up to $34 billion annually. south africa will be the african headquarters of the bank named the "new development bank africa regional centre". the bank will have starting capital of $50 billion, with capital increased to $100 billion over time. brazil, russia, india, china and south africa will initially contribute $10 billion each to bring the total to $50 billion.





















































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