Algeria Joins New Development Bank

On 22nd May 2025, the New Development Bank (NDB), founded by BRICS nations, officially welcomed Algeria as its newest member, marking a significant step in expanding the bank’s global footprint.

Key Highlights

  • Algeria’s admission reflects growing interest in BRICS-led financial institutions as alternatives to Western-dominated systems.
  • The NDB has now approved over 120 projects worth $40 billion across sectors.

New Development Bank

  • Headquartered in Shanghai, the NDB was founded in 2015 by Brazil, Russia, India, China, and South Africa.
  • It finances sustainable development and infrastructure projects in member countries.
  • Focus areas: clean energy, transport, digital infrastructure, sanitation, ....
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