SHANGHAI, March 24. /TASS/. Ex-president of Brazil Dilma Rousseff was elected as the President of the New Development Bank (NDB) created by BRICS countries, the financial institution said on Friday.

"On March 24, 2023, the Board of Governors of the New Development Bank (NDB) unanimously elected H.E. Mrs. Dilma Vana Rousseff as the President of the Bank, effective immediately, in full accordance with the Articles of Agreement of the New Development Bank and the procedures of the President election," the Bank said.

The New Development Bank was established by BRICS countries on the basis of the intergovernmental agreement signed in 2014. The goal of bank’s operation is to finance infrastructural projects and sustainable development projects in BRICS countries and developing economies.