Algeria joining the BRICS Bank
Eviralnews,, BRICS is the name of a group of countries led by emerging powers (Brazil, Russia, India, China and South Africa), which includes half of the world's population and 38% of the world's economic power at the disposal of this group. is
In August 2023, this group agreed with Iran, Saudi Arabia, the United Arab Emirates, Egypt, Argentina and Ethiopia joining BRICS, and countries such as Algeria and Malaysia are in line to join this group.
Mrs. “Dilma Rousseff”, the head of the new development bank affiliated to BRICS, said: Algeria has received permission to join this bank. He told reporters on the sidelines of the 9th annual meeting of the New Development Bank in Cape Town (South Africa): We are doing a process to allow new members to join this bank.
According to the Algerian newspaper “Khabar Amrooz”, the new development bank of the BRICS group was established in 2015, and Egypt, Bangladesh and the UAE joined this bank in 2021. The purpose of establishing this bank is to provide financial assistance to infrastructure projects and participate in the economic growth and prosperity of the member countries.
The Ministry of Finance of Algeria, by announcing the country's accession to the new development bank, considered it an important step in the process of entering the global financial system and clarified: this accession was made as a result of “exact evaluation” and is mostly due to the strength of macroeconomic indicators that show It is the economic sustainer of Algeria.
The statement of the Ministry of Finance of Algeria states: Membership in the new development bank opens new horizons for the economic growth and prosperity of the country. Algerian authorities believe that the economy of this country is the third among African countries.
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