The Shanghai-based BRICS New Development Bank announced on the 22nd that Algeria has officially become a new member.
NDB President Rousseff said Algeria’s accession would help elevate the NDB’s position on the global financial stage and that the bank would work to support Algeria’s sustainable development agenda.
“The NDB is a financial institution that mobilizes resources for infrastructure and sustainable development projects and serves as a platform for cooperation and knowledge sharing among its member countries.We will work with Algeria to finance impactful projects that drive progress, improve lives and promote development.”Rousseff said.
In 2021, the New Development Bank launched its expansion.To date, Bangladesh, Egypt, the United Arab Emirates and Algeria have become new full members of the Bank.
The New Development Bank (NDB) is a multilateral development bank established in 2015 by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging market and developing countries.
