Published 28/03/2023 16:53 | Edited 3/29/2023 2:06 PM
The former President of the Republic Dilma Rousseff began to command this Tuesday, 28, the New Development Bank (NDB in the acronym in English), also known as Banco do Brics. The official profile of the financial institution on Twitter released the first images of Dilma as president of the bank, which is headquartered in Shanghai, China.
Elected last Friday, the 24th, Dilma will chair the NDB until July 2025. She replaces Marcos Troyjo, former special secretary of the former Ministry of Economy, who held the post since July 2020. Dilma’s official inauguration ceremony, which would take place during President Luiz Inácio Lula da Silva’s trip to China. However, the postponement of Lula’s trip due to health problems caused the ceremony to be cancelled.
Read too: Brazil and China evaluate new date for Lula’s trip
On the last 10th, the NDB announced the replacement of Troyjo by Dilma. The election on the bank’s Board of Directors took place two weeks later. Each BRICS country – Brazil, Russia, India, China and South Africa – chairs the bank for five-year rotating terms.
Challenges
According to specialists heard by Agência Brasil, the new president of the Banco do Brics will have the opportunity to expand the institution’s international insertion, but will face two major challenges: boosting projects related to the environment and circumventing the geopolitical impact of western retaliations against Russia, one of the partners. -founders.
Created in December 2014 to expand funding for infrastructure projects and sustainable development projects in the Brics and other emerging economies, the NDB currently has around US$32 billion in approved projects. Of this total, approximately US$ 4 billion is invested in Brazil, mainly in highway and port projects.
In 2021, the Bank of Brics was joined by the following countries: Bangladesh, Egypt, United Arab Emirates and Uruguay.
Source: vermelho.org.br
