What company is Shanghai ndb?

Shanghai ndb is a new development bank of BRICS countries.

The p>New Development Bank (NDB for short) was put forward in 212. The purpose is that since the financial crisis, BRICS countries plan to build a financial safety net to avoid being affected by currency instability in the next financial crisis, and they can use this fund pool to exchange some foreign exchange for emergency use.

contingency reserve arrangement is an initiative put forward by China, mainly to solve the short-term financial crisis of BRICS countries. It is a rescue mechanism, not a profit mechanism. Contingency reserve arrangement is more symbolic. The economies of China and India still have strong momentum. Even if the development of BRICS countries slows down, it is three times higher than the growth rate of the United States.