On May 22, 2025, the New Development Bank (NDB), established by the BRICS nations, officially welcomed Algeria as its newest member, marking a significant expansion of its global membership. The Shanghai-headquartered bank announced that Algeria deposited its instrument of accession on May 19, 2025, in accordance with the NDB’s Articles of Agreement. This development strengthens the bank’s role in fostering sustainable development and infrastructure projects across emerging economies. Below, we delve into the significance of Algeria’s inclusion and its implications for the global financial landscape.
The New Development Bank (NDB), established in 2015 by the BRICS nations—Brazil, Russia, India, China, and South Africa—is a multilateral financial institution dedicated to mobilizing resources for infrastructure and sustainable development projects. Headquartered in Shanghai, the NDB serves as a platform for collaboration and knowledge sharing among its member countries. Since its inception, the bank has approved over 120 investment projects worth $40 billion, spanning sectors such as clean energy, transport infrastructure, environmental protection, water supply, sanitation, and digital infrastructure.
The NDB’s leadership, including its presidency and vice-presidency, rotates among the founding BRICS members. Currently, the bank is led by Dilma Rousseff, former President of Brazil, who emphasized Algeria’s strategic importance in enhancing the NDB’s global influence.
Algeria’s formal entry into the NDB on May 19, 2025, was marked by the deposition of its instrument of accession, solidifying its status as a full member of the bank. Dilma Rousseff, NDB President, highlighted Algeria’s strategic geographic position and rich natural resources, noting that the country’s inclusion will bolster the bank’s position in the global financial arena. Algeria’s dynamic economy and potential for growth make it a valuable partner for the NDB’s mission to support sustainable development.
Algeria’s Finance Minister, Abdelkrim Bouzerd, expressed enthusiasm about the membership, stating that it reflects Algeria’s commitment to the NDB’s role in financing global development. He emphasized the bank’s capacity to provide innovative and alternative solutions to promote economic growth and resilience in member countries.
The NDB has been instrumental in financing projects that address critical developmental needs. Below is a summary of its key focus areas and achievements:
| Sector | Key Focus |
|---|---|
| Clean Energy & Energy Efficiency | Promoting renewable energy and reducing carbon emissions. |
| Transport Infrastructure | Developing roads, railways, and urban mobility systems. |
| Environmental Protection | Supporting conservation and climate resilience initiatives. |
| Water Supply & Sanitation | Ensuring access to clean water and improved sanitation facilities. |
| Social & Digital Infrastructure | Enhancing education, healthcare, and digital connectivity. |
With Algeria’s inclusion, the NDB is poised to finance projects that align with the country’s sustainable development agenda, leveraging its expertise to drive progress and improve lives.
Algeria’s entry into the NDB strengthens the BRICS framework by expanding its influence in Northern Africa and beyond. As a resource-rich nation with a strategic location, Algeria is well-positioned to contribute to the bank’s objectives of promoting economic resilience and sustainable growth. The NDB’s commitment to being a reliable partner for Algeria underscores its focus on fostering inclusive development across its member states.
The inclusion of Algeria also highlights the growing relevance of the NDB as an alternative to traditional financial institutions like the World Bank and the International Monetary Fund (IMF). By offering innovative financing solutions, the NDB aims to address the unique challenges faced by emerging economies, making it a key player in the global financial architecture.
On May 22, 2025, the New Development Bank (NDB), established by BRICS nations in 2015, welcomed Algeria as a new member after it deposited its instrument of accession on May 19, 2025. Headquartered in Shanghai and led by Dilma Rousseff, the NDB focuses on financing infrastructure and sustainable development projects. With over 120 projects worth $40 billion approved since its inception, the bank supports sectors like clean energy, transport, and environmental protection. Algeria’s membership enhances the NDB’s global influence, particularly in Northern Africa, and aligns with its mission to promote economic resilience and sustainable growth.
- Announcement Date: May 22, 2025
- Algeria’s Accession: Deposited instrument of accession on May 19, 2025
- NDB Establishment: Founded in 2015 by BRICS nations (Brazil, Russia, India, China, South Africa)
- Leadership: Led by Dilma Rousseff (Brazil), with presidency rotating among BRICS members
- Projects: Approved over 120 projects worth $40 billion in sectors like clean energy, transport infrastructure, and digital infrastructure
- Algeria’s Role: Enhances NDB’s influence in Northern Africa with its strategic location and natural resources
- Objective: Mobilize resources for sustainable development and foster collaboration among member countries