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23 Jun BRICS

Posted at 23 Jun 2022 in Current Affairs by anoop singh 0 Comments

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BRICS is the acronym coined to associate five countries: Brazil, Russia, India, China (PRC), and South Africa.
Formed in September 2006 (UNGA 61st session), but first BRIC summit was held on 16 June 2009.
Originally there were group of four countries (i.e. Brazil, Russia, India, China (PRC) ), in 2010 South Africa joined the group. The Hindu Analysis
Headquarters: – BRICS Tower, Shanghai, People’s Republic of China.
1^st Summit was held on 16-june-2009, host country Russia and 14^th Summit held on 23-06-2022, host country China.
The New Development Bank (NDB), formally referred to as the BRICS Development Bank is a multilateral development bank operated by the five BRICS states. The Hindu Analysis
According to the Bank’s Articles of Agreement all members of the United Nations could be members of the NDB, but the share of the BRICS nations can never be less than 55% of voting power. In September 2021, Bangladesh, the United Arab Emirates and Uruguay joined the NDB and in December 2021, Egypt became its new member.