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The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states (Brazil, Russia, India, China, and South Africa). [1]
The National Development Bank PLC (commonly referred to as NDB Bank) is a Sri Lankan banking and financial services institution, headquartered in Colombo, Sri Lanka. Having begun operations as a state-owned development finance institution in 1979.
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NDB was created to be a global Multilateral Development Bank (MDB) with membership open to all members of the United Nations. After an initial establishment phase focused on building solid foundations to operate at scale, the Bank made substantial progress in expanding its membership by admitting the first new members in 2021.
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NDB’s founding members made an initial subscription of five hundred thousand shares totalling USD 50 billion, which include one hundred thousand shares corresponding to a paid-in capital of USD 10 billion and four hundred thousand shares corresponding to a callable capital of USD 40 billion.
