Dilma Rousseff, re-elected head of the BRICS bank

Published at: 23/03/2025 10:02 PM

Former Brazilian President Dilma Rousseff has been re-elected to head the New BRICS Development Bank thanks to the unanimous support for a new mandate from the nations of this organization.

Rousseff was elected president of the NBD in 2023 for a two-year term after being nominated by Lula, whom she succeeded to the Presidency of Brazil in 2011 and whose right hand she was for several years.

His re-election, now for a five-year term, was proposed by Russian President Vladimir Putin, after intensive negotiations with the progressive Brazilian leader, and unanimously approved by the bank's board of directors.

Rousseff turned the bank into an important driver of the development of BRICS countries after succeeding an administration that spent 16 months without taking out new loans to capitalize the entity.

The NBD, based in the Chinese city of Shanghai, was created in 2014 by the BRICS, the block founded by Brazil, Russia, India, China and South Africa.

The group of emerging countries recently accepted Egypt, the United Arab Emirates, Ethiopia, Iran, Indonesia and Saudi Arabia as new members, although the latter has not yet formalized its membership.

Mazo News Team