Former Brazilian President Dilma Rousseff named new President of BRICS New Development Bank

The New Development Bank (NDB), which is also known as the BRICS bank and is a multilateral financial institution created by Brazil, Russia, India, China, and South Africa, has announced that former Brazilian President Dilma Vana Rousseff has been elected as its new President. She replaces Marcus Troyjo in the position. Dilma Rousseff is an economist who served as the President of the Federative Republic of Brazil for two consecutive terms, from January 2011 to August 2016.

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Who is Dilma Vana Rousseff?

Dilma Vana Rousseff is a Brazilian economist and politician who served as the 36th President of Brazil from 2011 to 2016. She was the first woman to hold the office of President in Brazil. Prior to her presidency, Rousseff served as the Chief of Staff to President Luiz Inácio Lula da Silva from 2005 to 2010. She was also the Minister of Mines and Energy from 2003 to 2005. Rousseff was impeached and removed from office in 2016 on charges of breaking budgetary laws. Before her political career, Rousseff was a guerrilla fighter during the dictatorship period in Brazil, and she was imprisoned and tortured for several years.

Dilma Rousseff previously served as Brazil’s Minister of Mines and Energy and as Minister Chief of Staff during the first two governments of President Luiz Inácio Lula da Silva until 2010. During her presidency, Rousseff focused on creating economic stability and jobs while also implementing social programs to reduce poverty. Her efforts led to Brazil being removed from the UN’s Hunger Map due to successful poverty reduction. Rousseff promoted multilateralism, sustainable development, human rights, and peace on the international stage, while also respecting the sovereignty of all nations. She played an active role in international discussions on climate and environmental protection, culminating in Brazil’s key role in achieving the Paris Agreement. Rousseff also expanded Brazil’s cooperation with other countries in various regions, including the creation of the New Development Bank and the Contingent Reserve Arrangement with BRICS countries in July 2014. As President of NDB, Rousseff’s leadership was instrumental in the success of these initiatives.

Important takeaways for all competitive exams: 

• New Development Bank (NDB) Founded: 15 July 2014;
• New Development Bank (NDB) HQ: Shanghai, China.

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