The correct answer is: A. Establishment of a new development bank.
The BRICS New Development Bank (NDB) is a multilateral development bank established by the BRICS countries (Brazil, Russia, India, China, and South Africa). The NDB was founded in 2014 with the goal of financing infrastructure and sustainable development projects in emerging markets and developing countries. The NDB has its headquarters in Shanghai, China.
The NDB is a major development bank with a strong capital base and a clear mandate to support sustainable development. The NDB has already approved a number of projects in a variety of sectors, including energy, transportation, water, and sanitation. The NDB is playing an increasingly important role in financing infrastructure and sustainable development projects in emerging markets and developing countries.
The other options are incorrect because:
- Option B is incorrect because the United Nations is not a development bank. The United Nations is an intergovernmental organization that promotes international co-operation.
- Option C is incorrect because the BRICS countries do not conduct common military exercises.
- Option D is incorrect because cultural exchange is not a major decision that was taken at the fifth BRICS summit.