BRICS New Development Bank authorizes Algeria to join
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A staff worker stands behind the national flags of Brazil, Russia, China, South Africa and India to tidy the flags before a group photo during the BRICS Summit at the Xiamen International Conference and Exhibition Center in Xiamen, southeastern China's Fu
CAPE TOWN (Reuters) - Algeria has been authorised to become a member of the BRICS New Development Bank (NDB), the bank's president, Dilma Rousseff, said on Saturday.
A multilateral development bank, the NDB was established by the BRICS group of developing countries - Brazil, Russia, India, China and South Africa - in 2015.
Bangladesh, Egypt, the United Arab Emirates and Uruguay were admitted as new members of the bank in 2021 as part of an expansion drive.
"We have a process to authorize new members to the bank ... Algeria was authorised to become a member of the bank," Rousseff told journalists on the sidelines of the ninth annual meeting of the bank in Cape Town.
(Reporting by Wendell Roelf; Editing by Angus MacSwan and Frances Kerry)
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