Thu May 22 10:57:23 UTC 2025: **Summary:**

The New Development Bank (NDB), established by BRICS nations, has officially welcomed Algeria as a new member. Algeria deposited its instrument of accession on May 19, 2025. NDB President Dilma Rousseff highlighted Algeria’s significant economic role in North Africa and globally, praising its potential for growth and its ability to strengthen the NDB’s position. She reiterated NDB’s commitment to supporting Algeria’s sustainable development. Algeria’s Finance Minister Abdelkrim Bouzerd expressed confidence in the NDB’s role in financing global development and providing innovative solutions for member countries. The NDB has already approved over 120 projects totaling $40 billion since its inception in 2015.

**News Article:**

**NDB Welcomes Algeria as New Member, Expanding Global Reach**

**Beijing, May 22, 2025:** The New Development Bank (NDB), founded by BRICS nations (Brazil, Russia, India, China, and South Africa), announced today the admission of Algeria as its newest member. The move further solidifies the NDB’s expanding influence and role in global finance.

Algeria officially became a member on May 19th after depositing its instrument of accession. In a statement, NDB President Dilma Rousseff celebrated the addition, stating that Algeria’s “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.” Rousseff emphasized Algeria’s rich natural resources, dynamic economy, and strategic geographic location, highlighting its immense potential for growth and development.

The NDB, established in 2015, focuses on financing infrastructure and sustainable development projects within its member countries. Since its inception, it has approved over 120 projects with a total value of $40 billion, spanning sectors such as clean energy, transport infrastructure, and digital infrastructure.

Algeria’s Finance Minister Abdelkrim Bouzerd welcomed the development, affirming his country’s belief in the NDB’s “vital role in financing global development” and its capacity to offer “alternative and innovative solutions” to boost the economies of its members.

The addition of Algeria signals the NDB’s continued expansion and its ambition to become a major player in the international financial landscape, providing alternative funding mechanisms for developing nations.

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