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Dilma Rousseff Elected as the Head of New Development Bank

Published on March 27, 2023

Current Context: The New Development Bank (NDB) was established by Brazil, Russia, India, China, and South Africa (BRICS) countries in 2015. The purpose of NDB is to fund sustainable development projects and infrastructure projects in the BRICS countries and other developing countries and emerging markets.

Dilma Rousseff Elected as the Head of New Development Bank

  • She was unanimously elected by the Board of Governors of the New Development Bank (NDB) on March 24, 2023. 
  • The first meeting of the Board of Governors of NDB was held on 7 July 2015 in Moscow, Russia. India's K.V. Kamath was elected the first chairman of the bank.
  • It aims to mobilize resources for sustainable development and infrastructure projects in Brazil, Russia, India, China and South Africa (BRICS) and other Emerging Economies and Developing Countries (EMDC). 
  • The NDB operates as an alternative, in terms of interest rates, to the World Bank and the International Monetary Fund (IMF). Additionally, the institute seeks to increase financial cooperation among the signatory countries


Q.1 Who was elected as the head of New Development Bank (NDB)?
a. Xi Jinping 
b. Dilma Rousseff
c. Vladimir Putin 
d. Narendra Modi

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