Algeria Officially Joins BRICS New Development Bank, Opening New Era of Strategic Financial Cooperation

✍️ BY: Dr. Hana Saada

NDB President Dilma Rousseff hails Algeria’s accession as a major step in strengthening the global financial architecture and promoting sustainable development across the Global South

Algiers, Algeria | May 22nd, 2025 —  In a landmark development confirming its deepening ties with emerging economies, Algeria has officially joined the New Development Bank (NDB), the financial institution established by the BRICS bloc (Brazil, Russia, India, China, South Africa), as announced on Thursday by the bank’s president, Dilma Rousseff.

“On behalf of the New Development Bank, I warmly congratulate Algeria on its accession,” declared Rousseff, former President of Brazil, as cited by the bank’s press service. She emphasized Algeria’s growing international influence and its strategic economic position on the African continent.

“Algeria plays a key role not only in the economy of North Africa but also on the international stage. Its accession will undoubtedly strengthen the NDB’s position within the global financial landscape,” she added.

President Rousseff also reaffirmed the NDB’s commitment to fostering impactful collaboration with Algeria in the field of investment. “We will work with Algeria to finance high-impact projects that can drive progress, improve livelihoods, and promote sustainable development,” she said, signaling a robust agenda of cooperation aligned with the bank’s mission.

For his part, Algerian Minister of Finance Abdelkrim Bouzred described this milestone as a gateway to promising prospects of mutual support and strategic cooperation between Algeria and the BRICS-aligned financial institution.

“This membership reflects our firm belief in the central role that the NDB plays in global development financing, and in its ability to offer alternative and innovative solutions that bolster growth and resilience among member economies,” Bouzred stated.

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