Which one of the following countries is not a founding member of the New Develop- ment Bank?

The New Development Bank (NDB) was established as a multilateral development bank by the BRICS nations to mobilize resources for infrastructure and sustainable development projects [1]. According to the Articles of Agreement signed during the VI BRICS Summit in Fortaleza in 2014, the founding members are the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People's Republic of China, and the Republic of South Africa. These five nations provided the initial subscribed capital of US$ 50 billion, which was equally distributed among them [1]. While membership is open to all members of the United Nations, Canada is not a founding member of the institution [1]. The bank became fully operational in 2016 after receiving the first capital installments from its five original BRICS founders.

Sources

1. [1] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 13: International Organizations > 13.16 New Development Bank (NDB)/ BRICS Bank > p. 401