Skip to main content

BRICS New Development Bank authorizes Algeria to join

1 min

Algeria has been authorised to become a member of the BRICS New Development Bank (NDB), the bank's president, Dilma Rousseff, said on Saturday.

President of the New Development Bank (NDB) Dilma Rousseff, Reuters/Esa Alexander

Algeria has been authorised to become a member of the BRICS New Development Bank (NDB), the bank's president, Dilma Rousseff, said on Saturday.

A multilateral development bank, the NDB was established by the BRICS group of developing countries - Brazil, Russia, India, China and South Africa - in 2015.

Bangladesh, Egypt, the United Arab Emirates and Uruguay were admitted as new members of the bank in 2021 as part of an expansion drive.

"We have a process to authorize new members to the bank ... Algeria was authorised to become a member of the bank," Rousseff told journalists on the sidelines of the ninth annual meeting of the bank in Cape Town.

Reporting by Wendell Roelf

Related

Subscribe to our newsletter

Mena banner 4

To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.

  • Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.