Algeria Joins BRICS New Development Bank: Key Facts and Impacts
| Aspect | Details |
|---|---|
| Event | Algeria joins the BRICS New Development Bank (NDB) |
| Announced by | Dilma Rousseff, NDB President |
| Announcement Venue | Ninth annual meeting in Cape Town |
| NDB Establishment | 2015 by BRICS countries (Brazil, Russia, India, China, South Africa) |
| Primary Objective | Support infrastructure and sustainable development in emerging economies |
| Expansion History | 2021: Bangladesh, Egypt, UAE, and Uruguay joined |
| Algeria's Admission | Based on favorable macroeconomic indicators |
| Algeria's Economic Role | Africa's leading natural gas exporter |
| BRICS Formation | Initially BRIC in 2009; South Africa joined in 2010 |
| BRICS Purpose | Enhance cooperation on economic, political, and developmental issues |
| Economic Influence | BRICS represents a significant portion of global GDP and trade |
| Annual Summits | Held to discuss and coordinate policies on global issues |