Brics New Development Bank authorises Algeria to join
Sign up now: Get ST's newsletters delivered to your inbox
President of the New Development Bank (NDB) Dilma Rousseff attends the Ninth Annual Meeting of the NDB, a multilateral development bank established by Brazil, Russia, India, China and South Africa (BRICS) in Cape Town, South Africa, August 30, 2024. REUTERS/Esa Alexander/File Photo
CAPE TOWN - 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. REUTERS
