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25 Mar, 13:32

Rousseff to head BRICS bank until 2030 — bank’s press service

The New Development Bank was set up by BRICS nations on the basis of the intergovernmental agreement signed at the sixth BRICS summit in Fortaleza in July 2014

SHANGHAI, March 25. /TASS/. Dilma Rousseff, re-elected as head of the New Development Bank (NDB), will hold this post until 2030, the bank’s press service reported.

"On March 19, 2025, the Board of Governors of the New Development Bank (NDB) unanimously re-elected H.E. Mrs. Dilma Vana Rousseff as President of the Bank from July 7, 2025 to July 6, 2030," the statement says.

In 2024, at the BRICS summit in Kazan, Russian President Vladimir Putin announced that Moscow had proposed extending the presidency of the NDB to Brazil and Rousseff, who has been heading the bank since 2023.

The New Development Bank was set up by BRICS nations on the basis of the intergovernmental agreement signed at the sixth BRICS summit in Fortaleza in July 2014. It has eight members, those being Bangladesh, Brazil, Egypt, India, China, the United Arab Emirates (UAE), Russia, and South Africa. The bank’s goal is to finance infrastructure projects and sustainable development projects in BRICS member states and developing countries. The bank has its own capital worth $100 bln.

Since its founding, the bank has approved 98 projects totaling over $338 bln in support of such areas as transportation, water, clean energy, digital and social infrastructure, as well as urban construction. The bank is headquartered in Shanghai.