In Today’s News:
- New Development Bank.
- VAJRA PRAHAR 2021.
1. New Development Bank
Hon’ble Finance Minister of India Shri. Nirmala Sitharaman has urged NDB to work closely on financing infrastructure with India’s development financing institution.
Prelims GS – International Organizations
- During the sixth BRICS Summit in Fortaleza (2014), the leaders signed the Agreement establishing the New Development Bank (NDB).
- In the Fortaleza Declaration, the leaders stressed that the NDB will strengthen cooperation among BRICS.
- NDB will supplement the efforts of multilateral and regional financial institutions for global development, thus contributing to collective commitments for achieving the goal of strong, sustainable, and balanced growth.
- The New Development Bank (NDB) is a multilateral development bank (MDB) established by Brazil, Russia, India, China, and South Africa (BRICS) with the objective of financing infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries.
- NDB’s work complements the efforts of multilateral and regional financial institutions, toward global growth and development.
- The share of the BRICS nations can never be less than 55% of the voting power.
Click here to view the official website of NDB.
2. VAJRA PRAHAR 2021
VAJRA PRAHAR 2021 was conducted at Special Forces Training School located at Bakloh, HP in March 2021.
Prelims GS – Internal Security/International Relations
- The 11th edition of Indo-US Joint Special Forces Exercise VAJRA PRAHAR was conducted at Special Forces Training School located at Bakloh, HP in March 2021.
- The joint exercise by the Special Forces of both the countries is conducted alternatively between India and the United States to share the best practices and experiences in areas such as joint mission planning and operational tactics as also to improve interoperability between the Special Forces of both nations.
Click here to view the official PIB release.
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