In a landmark move underscoring its commitment to global cooperation and sustainable development, Algeria has officially become a full member of the New Development Bank (NDB), the multilateral financial institution established by BRICS nations in 2015. The North African country finalized its accession on May 19, 2025, marking a new chapter in its economic and international engagement.
Headquartered in Shanghai, the NDB aims to mobilize resources for infrastructure and sustainable development in emerging markets and developing countries (EMDCs). Since its inception, the Bank has approved over 120 investment projects totaling $40 billion across vital sectors including clean energy, transportation, and digital infrastructure.
Welcoming Algeria into the fold, NDB President Dilma Rousseff praised the country’s strategic value:
“Algeria plays an important role not only in Northern Africa but also on a global scale. It will contribute significantly to enhancing NDB’s position in the financial arena.”
Algeria’s Finance Minister, Abdelkrim Bouzerd, echoed this sentiment, calling the membership a “testament to our belief in this institution’s vital role in financing global development.” He emphasized that joining the NDB offers new avenues for Algeria to finance impactful, resilient projects that align with the country’s development priorities.
Algeria, with its rich natural resources, youthful population, and central location linking Africa, Europe, and the Middle East, is well-positioned to benefit from NDB’s financial mechanisms and expertise. As the Bank continues to broaden its scope beyond the founding BRICS nations—Brazil, Russia, India, China, and South Africa—Algeria’s inclusion is seen as part of a broader strategy to deepen cooperation among EMDCs.
“The NDB is fully committed to becoming a reliable and trustworthy partner for Algeria, supporting its sustainable development agenda,” Rousseff added, underscoring the mutual ambition driving this partnership.
Algeria’s accession signals a deepening of South-South cooperation and reinforces the NDB’s mission of creating inclusive, sustainable growth for developing nations around the world.
