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This institution finances infrastructure projects in Brazil, Russia, India, China, and South Africa.
On Tuesday, former Brazilian President Dilma Rousseff began her work as president of the BRICS New Development Bank (NDB) at the institution's headquarters in Shanghai.
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Dilma Rousseff Elected President Of BRICS New Development Bank
The NDB president will have interesting opportunities to expand the international insertion of this development bank, Agencia Brasil commented.
However, she will also have to face two major challenges: "promoting projects related to the environment and avoiding the geopolitical impact of Western reprisals against Russia," it added.
Rousseff will hold the position until 2025, replacing Brazilian Marcos Trojyo, whom former President Jair Bolsonaro nominated for the NDB presidency in 2020.
H.E. Mrs. Dilma Rousseff, the NDB newly elected President, has started her first day in office in the NDB Headquarters in Shanghai, China. pic.twitter.com/JOLblXhhzQ
— New Development Bank (@NDB_int) March 28, 2023
On March 24, NDB Governors Board unanimously appointed the former Brazilian president to the position. Previously, Brazil's President Lula da Silva nominated Rousseff for the position.
The BRICS development bank finances infrastructure projects in the member countries of this bloc of economic cooperation, namely, Brazil, Russia, India, China, and South Africa.
Currently, the BRICS NDB also provides financing to developing countries such as Bangladesh, Egypt and Uruguay, which were admitted as partners of the bank in 2021.
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