President of the NDB Kundapur Vaman Kamath gives a speech during a opening ceremony of the New Development Bank in Shanghai

President of the New Development Bank (NDB) Kundapur Vaman Kamath gives a speech during a opening ceremony of the New Development Bank in Shanghai, China, July 21, 2015. Officials from the world's largest emerging nations launched the New Development Bank (NDB) on Tuesday, the second of two new policy banks heavily backed by Beijing that are being pitched as alternatives to existing institutions such as the World Bank. REUTERS/Aly Song