Former President of Brazil Dilma Rousseff took office as President of the Brics New Development Bank (NBD) on Monday at the company’s headquarters in Shanghai, China.
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“Ms. Dilma Rousseff, the newly elected president of the NDB, started her first day in the offices at the NDB headquarters in Shanghai, China,” the bank said on its Twitter account on the social network.
On March 24, 2023, the Board of Governors of the New Development Bank (NBD) unanimously elected Rousseff as President effective immediately, a responsibility extended through July 2025.
#New Development Bank #President #Shanghai #NDBHQ pic.twitter.com/0WzVJL7sZD
— New Development Bank (@NDB_int)
March 28, 2023
Previously, Marcos Trojyo, also from Brazil, was in charge of the presidency of Bank Brics under the mandate of former dignitary Jair Bolsonaro.
The Brics Bank (a group made up of Brazil, Russia, India, China and South Africa) was “founded with the aim of mobilizing resources for infrastructure and sustainable development projects in the Brics and other emerging and developing countries”.
As new member countries in 2021, the NDB has admitted Bangladesh, Egypt, the United Arab Emirates and Uruguay, although they do not own as many shares in the bank as the Brics countries.
The NBD was founded in 2014, when Dilma Rousseff was President of Brazil, with the aim of financing infrastructure and sustainable development projects in the countries that make up the group and other emerging economies.