New Development Bank : Dilma Roussef As New Head
Former Brazilian President Dilma Rousseff has been “unanimously elected” as the head of the New Development Bank (NDB) recently.
- NDB was formed to support infrastructure and sustainable development efforts in BRICS and other underserved, emerging economies for faster development through innovation and cutting-edge technology.
- It is headquartered in Shanghai, China.
- The NDB President is elected on a rotational basis from one of the founding members.
- K. V. Kamath, from India, is the first elected president of the NDB.