Q. Which of the following institution formed as a result of “Fortaleza Declaration”?



[C] New Development Bank

[D] ASEAN Bank

Answer: C

Explanation: Together with the process of globalization world regional forces have also been asserting their power through different short of alignments—the Fortaleza Declaration of heads of state (late July 2014) from Brazil, Russia, India, China, and South Africa (the BRICS countries) is another such attempt —creation of a BRICS Bank i.e., New Development Bank (NDB).

Source: TMH Ramesh Singh