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Consider the following statements 1 New Development Bank has been set...

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World Organisations
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Consider the following statements :
1. New Development Bank has been set up by APEC.
2. The headquarters of New Development Bank is in Shanghai.
Which of the statements given above is/are correct?

Answer & Solution
Correct Answer: Option B
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).
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