On May 19, 2025, Algeria deposited its instrument of accession, in line with the provisions of the Articles of Agreement of the New Development Bank.
“On behalf of New Development Bank, I truly congratulate Algeria for joining the Bank. Algeria plays an important role not only in the economy of Northern Africa, but also at a global scale, and will definitely contribute to enhancing NDB’s position in the global financial arena,” said H.E. Mrs. Dilma Rousseff, NDB President.
“Rich in natural resources, with a dynamic economy and strategic geographic position, Algeria has immense potential for growth and development. NDB is fully committed to becoming a reliable and trustworthy partner for Algeria, supporting its sustainable development agenda,” said President Dilma Rousseff.
“The New Development Bank is a financial institution mobilizing resources for infrastructure and sustainable development projects. It is a platform for collaboration and knowledge sharing among its member countries. Together with Algeria, we will work to finance impactful projects that drive progress, improve lives, and contribute to development,” added President Dilma Rousseff.
“We are delighted to announce the formalization of Algeria’s membership of the New Development Bank and thus becoming a full member of this prestigious international financial institution,” said H.E. Mr. Abdelkrim Bouzred, Minister of Finance of the People’s Democratic Republic of Algeria. “This membership is a testament to our belief in this institution’s vital role in financing global development, and its status as a key player capable of providing alternative and innovative solutions to promote the growth and resilience of its member countries’ economies.”
“I remain convinced that my country’s membership of the NDB will create promising opportunities for collaboration and mutual support,” said Mr. Abdelkrim Bouzred.
NDB’s membership expansion is in line with the Bank’s strategy to become a leading provider of solutions for infrastructure and sustainable development for emerging market economies and developing countries (EMDCs).
Background information
Established in 2015 by BRICS countries (Brazil, Russia, India, China and South Africa), the New Development Bank is a multilateral development bank aimed at mobilizing resources for infrastructure and sustainable development projects in BRICS and other EMDCs. Complementing the ongoing efforts of other multilateral and regional financial institutions, NDB aims to contribute to global growth and development by helping address the needs and aspirations of EMDCs.
Since its establishment in 2015, NDB approved over 120 investment projects totalling USD 40 billion and spanning several key areas, including clean energy and energy efficiency, transport infrastructure, environmental protection, water supply and sanitation, social infrastructure and digital infrastructure.
Source : https://www.ndb.int/news/algeria-officially-becomes-member-country-of-new-development-bank/
