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, ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Buy July 2025 Issue

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

Related Content

World Watch