Which one of the following countries is not a founding member of the New Development Bank?
Canada
Understanding the New Development Bank (NDB) Founding Members
The question asks us to identify the country that was not a founding member of the New Development Bank (NDB). The NDB is a multilateral development bank established by the BRICS states.
Let's look at the BRICS countries, as they are the founding members of the NDB.
- Brazil
- Russia
- India
- China
- South Africa
These five nations signed the agreement to establish the NDB during the 6th BRICS Summit in Fortaleza, Brazil, in 2014. The bank officially began operations in 2015.
The primary purpose of the NDB is to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries. It aims to complement the existing global financial architecture.
Analyzing the Options
Now let's examine the given options in relation to the list of BRICS countries and founding members of the NDB:
- Brazil: Brazil is a founding member, as it is one of the original BRICS countries.
- Canada: Canada is not a BRICS country and was not involved in the formation of the NDB.
- Russia: Russia is a founding member, being one of the original BRICS countries.
- India: India is a founding member, being one of the original BRICS countries.
Conclusion
Based on the analysis, Canada is the only country among the options that is not one of the five founding members of the New Development Bank. The founding members are Brazil, Russia, India, China, and South Africa.
Revision Table: Key Facts about New Development Bank
Here is a quick summary:
| Aspect | Details |
|---|---|
| Established By | BRICS Countries (Brazil, Russia, India, China, South Africa) |
| Date of Agreement | July 15, 2014 (Fortaleza, Brazil) |
| Operations Began | 2015 |
| Headquarters | Shanghai, China |
| Purpose | Mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries. |
Additional Information: NDB Membership Expansion
While the NDB was founded by the five BRICS countries, it has expanded its membership since its establishment. Other countries have joined or are in the process of joining the bank to further its mission and reach. Examples of countries that have joined include Bangladesh, UAE, Uruguay, and Egypt. However, the question specifically asks about the founding members, which are exclusively the original BRICS five.
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