The Board of New development bank created by the BRICS group of nations announced on Friday that it had unanimously elected the former Brazilian president Dilma Rousseff as the new President.
Rousseff, who served as Brazil’s president from 2011 until she was ousted in 2016 amid a harsh recession and amid allegations of corruption, will replace Marcos Prado Troyjo and complete Brazil’s tenure as the company’s rotating president through July 6, 2025, Portal reported.
Prado Troyjo, whose candidacy was promoted by now-former Brazilian President Jair Bolsonaro, resigned on March 10, at which point a new selection process began within the financial institution.
According to the Brazilian press, the diplomat’s plans would now be included in the Sao Paulo regional government led by Bolsonaro Tarcísio Gomes de Freitas.
“On March 24, 2023, the Board of Governors of the NBD” (New Development Bank) unanimously elected “Rousseff” as President of the Bank, effective immediately,” the board said in a statement.
Rousseff was nominated for the post by her political godfather and current Brazilian head of state, Luiz Inácio Lula da Silva.in power since January 1st.
Since Lula’s inauguration, the ex-president has regained visibility, having remained almost without public weight vis-à-vis both her supporters and critics.
Rousseff was fired after a historic vote by Brazil’s Congress after she was accused of violating budget rules and balancing the budget deficit.
The appointment comes on the eve of the state visit to China, Brazil’s largest trading partner, which Lula plans to make starting next week.
Based in Shanghai, NBD was founded in 2014when Rousseff led the Brazilian presidency, succeeding Lula in 2011.
The BRICS development bank is dedicated to financing infrastructure projects in its five members Brazil, Russia, India, China and South Africa, but also supports developing countries such as Bangladesh, Egypt and Uruguay, which have been approved as banking partners.