Consider the following statements: 1. New Development Bank has been set up by APEC. 2. The headquarters of the New Development Bank is in Shanghai. Which of the statements given above is/are correct?
Correct answer: B
Explanation
Statement 1 is Incorrect: At the fourth BRICS Summit in New Delhi (2012), the leaders of Brazil, Russia, India, China, and South Africa considered the possibility of setting up a new Development Bank to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies, as well as in developing countries.
Statement 2 is Correct: The bank is headquartered in Shanghai, China.
Hence, option B is the correct answer.