Algeria formalizes adherence to the Bank of Brics and expands the presence of the block in North Africa

Algeria formalized its entry into the Novo Development Bank (NDB) on May 19, 2025, officially integrated the financial institution founded by the BRICS countries (Brazil, Russia, India, China and South Africa). Confirmation of the adhesion was published on the official NDB website.

With the delivery of the adhesion instrument, Algeria becomes the bank’s latest member, created in 2015 to fund infrastructure projects and initiatives aimed at sustainable development in developing countries and emerging economies.

The incorporation of the new member occurs in the context of the expansion of the institution’s performance, which seeks to consolidate its presence in different regions of the so -called global south.

NDB President Dilma Rousseff stated that Algeria’s entry represents a relevant step towards strengthening the entity’s performance in the international financial system.

“In the name of the New Development Bank, I sincerely congratulate Algeria for joining the Bank. Algeria plays an important role not only in the economy of North Africa, but also on a global scale, and will definitely contribute to strengthening the NDB position in the world financial scenario,” he said.

During the statement, Rousseff also highlighted economic aspects of the newly unintegrated country. “Rich in natural resources, with a dynamic economy and strategic position, Algeria has immense potential for growth and development. NDB is fully committed to becoming a reliable and solid partner for Algeria, supporting its sustainable development agenda.”

On the Algerian side, the adhesion was confirmed by Finance Minister Abdelkrim Bouzred, who stressed the country’s interest in expanding his alliances in the multilateral scenario.

“We are pleased to announce the formalization of Algeria’s adhesion to the Novo Development Bank and thus we will become a member of this prestigious international financial institution,” he said.

He added that “this adherence is proof of our belief in the vital role of this institution in financing global development and its status as a key actor capable of alternative and innovative solutions to promote the growth and resilience of their member countries’ economies.”

According to Bouzred, the bank entry represents a relevant stage of the country’s economic foreign policy. “I remain reinforced that Algeria’s adhesion to the NDB will create promissory opportunities for collaboration and mutual support.”

The expansion of membership is part of the NDB institutional strategy to increase its relevance and capillarity. Since its inception, the institution has approved more than 120 financing projects, totaling approximately $ 40 billion.

These resources were intended for areas such as clean energy, energy efficiency, transport infrastructure, environmental protection, water supply, sanitation, social and digital infrastructure.

Algeria’s presence in the bank is seen as an advance in the consolidation of a cooperation network between developing countries.

With this adhesion, the NDB reinforces its differentiated action proposal against traditional financial institutions, offering credit solutions adapted to the specific realities and needs of their member countries.

The North African country joins a group of economies that have been seeking alternatives to the predominant international financing system.

The proposal of the NDB is to operate with regionalized focus, prioritizing investments in projects with direct impact on infrastructure conditions and local sustainable development.

The Novo Development Bank is headquartered in Shanghai, China, and since its foundation seeks to expand the number of members beyond the founding countries. The strategy includes the inclusion of new countries that share the principles of sustainable project financing, with emphasis on economic and social infrastructure.

Algeria’s entry occurs amid a continuous process of diversification of the portfolio of member countries and the geographical distribution of funded projects. In part of an North Africa country, NDB expands its presence in a region of increasing geopolitical and economic importance, strengthening its performance on the African continent and promoting non -western multilateral financial cooperation.

To date, the NDB continues to analyze other applications from countries interested in integrating the institution. The gradual expansion of the number of members aims to expand the reach of available resources and the bank’s operational capacity in different regional contexts.

With the Algerian adhesion, the NDB seeks to advance the diversification of its institutional base, both geographic and in relation to investment areas, consolidating itself as an alternative aimed at emerging countries in the formulation and execution of development projects.