Dilma Rousseff has called Algeria’s accession a milestone for the bank and a boost to global financial cooperation

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Algeria has officially become a member of the New Development Bank (NDB), the financial institution established by the BRICS group of nations.

The announcement was made by the NDB’s press service on Thursday, citing the bank’s president, Dilma Rousseff, who welcomed the North African nation’s accession as a significant milestone for both Algeria and 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,” she noted.

Rousseff emphasized the institution’s commitment to co-financing development projects aimed at improving living standards and promoting economic progress.