by: Simona Salvi | April 23, 2024
Algeria’s accession process to the Brics bank (Brazil, Russia, India, China and South Africa) “is proceeding according to the agreed timetable”. The president of the bank, Dilma Rousseff, said this in the meeting she had in Washington with the Algerian Finance Minister, Laaziz Faid, on the sidelines of the spring meetings of the World Bank and the International Monetary Fund.
“The legal and institutional procedures for this accession are in the last phase of finalization,” added Rousseff, according to the press release issued by the Algerian Ministry of Finance. During the meeting the two sides also discussed “the possibilities for future cooperation, in particular with regard to the financing of strategic and structuring development projects for the Algerian economy”.
As the Algerian media recall, Algiers presented the official request to become a member of the New Brics development bank in July 2023, with an initial financial contribution of around 1.5 billion dollars.
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