Explanation:
India on December 29, 2021, welcomed Egypt as the new member of the BRICS New Development Bank. With this, Egypt has now become a fourth new member to be admitted to BRICS NDB. The BRICS group includes five major emerging countries around the world- Brazil, Russia, India, China, and South Africa and the multilateral bank BRICS NDB was established by these rising economies to finance the sustainable development projects.
