The New Development Bank (NBD), also known as Banco dos Brics, announced this Friday (24) that former president Dilma Rousseff is its new president. She will replace Marcos Troyjo, linked to former Economy Minister Paulo Guedes.

The announcement comes days before President Luiz Inácio Lula da Silva’s (PT) trip to China, which was postponed this Friday due to health problems. Even so, the president should participate in Dilma’s inauguration ceremony as the new leader of the NBD, at the Bank’s headquarters in Shanghai.

Founded in 2014 during the BRICS summit in Fortaleza, the institution is made up of resources from the countries of the economic bloc: Brazil, Russia, India, China and Africa. In 2021, the NBD negotiated and admitted Bangladesh, Egypt, United Arab Emirates and Uruguay as its new member countries. These new countries, however, are minority partners and do not own as many shares in the Bank as the BRICS nations.

Brazil, Russia, India, China and Africa each provided US$10 billion during the Bank’s founding.

The financial institution claims to have as a priority “infrastructure and sustainable development projects that drive economic growth and improve the lives of people in our member countries.”

According to the NBD, 96 projects have already been approved, totaling US$ 32.8 billion. In Brazil, the Bank has investments in the basic sanitation system in Manaus, in the expansion of the supply of drinking water in Pernambuco, among other actions.

Editing: Patricia de Matos


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