New Development Bank

Recently, a one-day Joint India - New Development Bank(NDB) workshop on Enhancing NDB’s engagement with the India private and public sector was held in New Delhi. Consider the following statements regarding NDB:

  1. The idea to form a new Development Bank to mobilize resources for infrastructure and sustainable development projects was mobilized at fifth annual BRICS summit, held in Durban, South Africa in 2013.
  2. As of now, NDB’s approved loan proportion to India is 18%, the third highest after China and Russia amongst the BRICS countries.

Which of the following statements given above is/are correct?

A
Only 1
B
Only 2
C
Both 1 and 2
D
Neither 1 nor 2
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