o The initial subscribed capital shall be US$ 50 billion, equally shared among founding members.

o The first chair of the Board of Governors shall be from Russia.

o The first chair of the Board of Directors shall be from Brazil.

o The first President of the Bank shall be from India.

o The headquarters of the Bank shall be located in Shanghai.

o The New Development Bank Africa Regional Center shall be established in South Africa concurrently with the headquarters.

♤ More than the establishment of the NDB, the Fortaleza Declaration is remarkable for