1 structure , objectives
1.1 corporate governance
1.2 development capital
1.3 objectives
structure , objectives
corporate governance
according articles of agreement, main organs of bank are:
board of governors
board of directors
president , vice-presidents
as of september 2017, members of ndb board of governors follows:
henrique de campos meirelles, brazil s minister of finance
anton siluanov, russia s minister of finance
arun jaitley, india s minister of finance, corporate affairs , information & broadcasting
xiao jie, china s minister of finance - chairman of board of governors
malusi gigaba, south africa s minister of finance - vice-chairman of board of governors
the ndb president elected on rotational basis 1 of founding members, , there @ least 1 vice president each of other 4 founding members.
k. v. kamath, india, first elected president of ndb.
the first chair of board of governors russia , first chair of board of directors brazil.
development capital
the bank s primary focus of lending infrastructure , sustained development projects authorized lending of $34 bln annually. bank have starting capital of $50 bln, capital increased $100 bln on time. brazil, russia, india, china , south africa contribute $10 bln each bring total $50 bln. each member cannot increase share of capital without other 4 members agreeing. primary requirement of india. bank allow new members join brics capital share cannot fall below 55%.
objectives
the bank aims contribute development plans established nationally through projects socially, environmentally , economically sustainable. taking account, main objectives of ndb can summarized follows
^ agreement on new development bank . university of toronto. brics information centre. 15 july 2014. retrieved 16 march 2016.
^ ebeling, paul (20 march 2016). brics new development bank launched in shanghai . live trading news. retrieved 21 march 2016.
^ new bank of brics . washington post. 17 july 2014. retrieved 20 july 2014.
^ new brics bank building block of alternative world order . huffington post. 18 july 2014. retrieved 20 july 2014.
^ brics bank ready launch - russian finance minister . russia & india report. 10 july 2014. retrieved 20 july 2014.
^ brics countries launch $100 billion developmental bank, currency pool . russia & india report. 16 july 2014. retrieved 20 july 2014.
^ indian media: brics bank step in right direction . bbc. 16 july 2014. retrieved 20 july 2014.
^ victory modi, india brics summit clears setting of new development bank . india today. 16 july 2014. retrieved 20 july 2014.
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