New member joining BRICS New Development Bank is announced
The new BRICS development bank has decided to grant membership to Algeria
President of the BRICS New Development Bank (NDB) Dilma Rousseff has announced that Algeria has been granted permission to become a member of the financial organisation. The announcement was made in Cape Town on the margins of the bank's ninth annual meeting. This is reported by teleSUR, a partner of TV BRICS.
According to a statement from the Algerian finance ministry, Algeria is taking a major step in integrating into the global financial system by joining this significant development institution.
"We have a procedure for authorising new members of the bank ... Algeria has been authorised to become a member of the bank," Rousseff said.
The NDB, created in 2015 by the BRICS group of developing countries (Brazil, Russia, India, China and South Africa), continues to expand its influence. Bangladesh, Egypt, UAE and Uruguay joined the bank in 2021.
Photo: teleSUR-
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