Algeria has officially become a member of the New Development Bank, a financial institution founded by BRICS nations, signaling its entry into a major global platform for development financing. The country deposited its membership documents on May 19, 2025, joining efforts to support sustainable infrastructure projects worldwide.
In a significant development for international finance and South-South cooperation, Algeria has formally joined the New Development Bank (NDB)—an institution established by the BRICS nations—on May 19, 2025. This move reinforces Algeria’s commitment to sustainable development and underlines NDB’s expanding global footprint beyond its founding members.
Algeria officially deposited its instrument of accession on May 19, completing its membership process to join the NDB. The announcement was made on May 22, 2025, by the Shanghai-headquartered bank. This marks an important milestone in NDB’s mission to broaden global participation in infrastructure and development financing.
| Summary/Static | Details |
| Why in the news? | Algeria Becomes New Member of BRICS’ New Development Bank |
| Accession Date | May 19, 2025 |
| Institution | New Development Bank (NDB) |
| Established | 2015 by BRICS |
| Current President | Dilma Rousseff (Brazil) |
| Total Projects Approved | 120+ (worth $40 billion) |
| Key Sectors | Infrastructure, clean energy, water, transport, digital development |
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