Algeria handed over the accession document to the New Development Bank (NDB), officially finalising the procedure of joining the BRICS financial institution. This was announced by NDB President Dilma Rousseff.

She noted that Algeria is a country rich in natural resources, with a dynamic economy and a strategic geographical location. Rousseff added that the NDB seeks to become a reliable partner of Algeria in the implementation of projects in the field of sustainable development. Her words were quoted on the financial organisation’s
website.

“I truly congratulate Algeria for joining the Bank. Algeria plays an important role not only in the economy of Northern Africa, but also at a global scale, and will definitely contribute to enhancing NDB’s position in the global financial arena”

Dilma Rousseff President of the New Development Bank

For his part, Algerian Finance Minister Abdelkrim Bouzred said that joining the NDB will open new opportunities for cooperation.

The report said that Algeria’s accession to the NDB reflects the bank’s strategy to strengthen its position as a key source of financing for infrastructure and sustainable projects in developing countries.

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