Algeria Joins BRICS' New Development Bank
| Aspect | Details |
|---|---|
| Event | Algeria joins the New Development Bank (NDB) |
| Date of Accession | May 19, 2025 |
| Announcement Date | May 22, 2025 |
| Headquarters of NDB | Shanghai, China |
| NDB Establishment | 2015 by BRICS nations (Brazil, Russia, India, China, South Africa) |
| NDB Key Objectives | Mobilize resources for infrastructure and sustainable development projects; Offer alternative financial solutions; Strengthen South-South cooperation |
| NDB Focus Areas | Clean energy, water sanitation, transportation, digital infrastructure, environmental protection |
| NDB Projects | Over 120 projects worth $40 billion approved |
| Current NDB President | Dilma Rousseff (Brazil) |
| Algeria's Significance | Geographically strategic in North Africa; Rich in natural resources and energy reserves |
| Key Figures | Dilma Rousseff (NDB President), Abdelkrim Bouzerd (Algerian Finance Minister) |