The New Development Bank (NDB) was set up under the Fortaleza Declaration, which was adopted at the sixth BRICS conference in Fortaleza, Brazil, on July 15, 2014. The declaration called for the establishment of a new development bank to finance infrastructure and maintainable development projects in BRICS and other developing market economies and developing countries. The NDB was officially launched on July 21, 2015, with an initial subscribed capital of US$50 billion. The bank's headquarters are located in Shanghai, China.
The NDB is a multilateral development bank, which means that
it is owned by its member countries. The founding members of the NDB are
Brazil, Russia, India, China, and South Africa. The bank has a total authorized
capital of US$100 billion, which can be increased by the board of governors.
The voting power of each member is equal to its pledged shares in the capital
stock of the bank.
The NDB's mission is to promote sustainable development,
infrastructure, and economic cooperation among its member countries. The bank's
lending activities are focused on projects in the following areas:
Clean energy
Transport infrastructure
Irrigation
Sustainable urban development
Economic cooperation among member countries
The NDB has a number of advantages over other development
banks. First, it is owned by emerging market economies, which gives it a better
understanding of the needs of these countries. Second, the NDB is not subject
to the same political constraints as other development banks, which allows it
to be more flexible in its lending decisions. Third, the NDB's focus on
sustainable development is in line with the priorities of many emerging market
economies.
The NDB has been a success since its inception. It has
already approved loans for a number of projects in its member countries. The
bank is expected to play an increasingly important role in financing
infrastructure and sustainable development in the years to come.
Does Fortaleza have daylight savings?
No, Fortaleza does not have daylight savings time. Brazil
stopped observing daylight savings time in 2019. The country's four time zones
are now permanent. Fortaleza is in the UTC-3 time zone, which is 3 hours fast
of Coordinated Universal Time (UTC).
Daylight savings time is a practice of advancing clocks during
summer months so that there is more daylight in the evening. It is intended to
save vigor by reducing the need for artificial lighting. However, there is some
debate about the environmental benefits of daylight savings time, and some
people believe that it can have negative impacts on health and productivity.
Brazil is not the only country that has stopped observing
daylight savings time. Other countries that have done so include Russia, India,
and China.
Disadvantages of Change in Fortaleza
There are a number of potential disadvantages of change in
Fortaleza. Some of these include:
Job losses: If the city changes its economic focus, it could
lead to job losses in certain sectors. For example, if the city moves away from
its manufacturing base, it could lead to job losses in that sector.
Increased inequality: If the benefits of change are not
evenly distributed, it could lead to increased inequality. For example, if the
wealthy benefit disproportionately from change, it could widen the gap between
the rich and the poor.
Environmental damage: If change is not carefully planned, it
could lead to environmental damage. For example, if the city expands its
infrastructure without taking into account the environmental impact, it could
lead to deforestation, pollution, and other problems.
Social disruption: Change can also lead to social
disruption. For example, if the city's population changes rapidly, it can
strain social services and lead to tensions between different groups.
Loss of cultural heritage: If change is not sensitive to the
city's cultural heritage, it could lead to the loss of important historical and
cultural sites. For example, if the city demolishes old buildings to make way
for new development, it could lose its unique character.
It is important to weigh the potential disadvantages of
change against the potential benefits before making a decision about whether or
not to proceed. It is also important to plan carefully to minimize the negative
impacts of change.
Here are some ways to mitigate the disadvantages of
change in Fortaleza:
Create a comprehensive plan for change: This plan should
take into account the potential economic, social, and environmental impacts of
change. It should also include measures to mitigate the negative impacts.
Encourage public participation: The public should be
involved in the planning process so that their concerns can be addressed.
Provide support for those who are affected by change: This
support could include job training, financial assistance, and social services.
Monitor the impact of change: It is important to monitor the
impact of change so that problems can be identified and addressed early on.
Conclusion
Change is inevitable, and it is important to be prepared for
the possible challenges that it can bring. By planning carefully and taking
steps to mitigate the negative impacts, it is possible to minimize the
disadvantages of change and maximize the benefits.
In the case of Fortaleza, the city is facing a number of challenges, including rapid urbanization, climate change, and economic inequality. These challenges are likely to lead to changes in the city's economy, infrastructure, and social fabric. It is important for the city to develop a comprehensive plan for change that takes into account the potential impacts of these changes. The plan should also include measures to mitigate the negative impacts and maximize the benefits.
The city can also encourage public participation in the
planning process so that the concerns of all stakeholders are addressed. By
taking these steps, Fortaleza can be better prepared for the challenges of
change and can seize the opportunities that it brings.
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