Archive · 22 May 2025
BRICS Bank NDB Welcomes Algeria as a New Member
Imagine a special bank created by countries like Brazil, Russia, India, China, and South Africa (BRICS).
This bank helps fund projects that help countries grow and develop in a sustainable way.
Algeria has just become a new member of this bank!
This means Algeria can now work with the bank to get money for important projects.
The bank's president is excited, because they believe Algeria, with its rich resources and location, can contribute a lot.
The bank has already helped fund many projects, such as those involving clean energy and infrastructure.
Algeria has been admitted as a new member of the New Development Bank (NDB).
Algeria deposited its instrument of accession on May 19, 2025.
The NDB was established by BRICS nations in 2015.
NDB President Dilma Rousseff welcomed Algeria, highlighting its economic and geographic importance.
The NDB has approved over 120 investment projects totaling $40 billion.
- Who
- Algeria, the NDB (established by BRICS nations), and its President Dilma Rousseff.
- What
- Algeria joined the New Development Bank (NDB).
- When
- Algeria deposited its instrument of accession on May 19, 2025, and the announcement was made on May 22, 2025.
- Where
- The NDB is headquartered in Shanghai.
- Why
- To support sustainable development and finance impactful projects.
- Bank Name
- New Development Bank (NDB)
- New Member
- Algeria
- Bank Headquarters
- Shanghai
- Year Established
- 2015
- Total Investment in Projects
- $40 billion