Brazilian ex-president secures second term as head of BRICS New Development Bank

Brazilian ex-President Dilma Rousseff has been re-elected to serve another term as the head of the BRICS New Development Bank (NDB), a position she first assumed in March 2023.

Her new term is set to last for five years, Caliber.Az reports via Russian media. 

"I have been re-elected. My candidacy was proposed, and the Bank's Board unanimously approved the offer," Rousseff said following her re-election. 

Rousseff, who served as Brazil's president from 2011 to 2016, has continued her leadership role in the international financial institution, focusing on development projects in BRICS nations and beyond. 

The BRICS New Development Bank (NDB) was established in 2014 by the BRICS countries—Brazil, Russia, India, China, and South Africa—as a multilateral development bank aimed at supporting infrastructure and sustainable development projects in emerging economies.

The bank's primary goal is to mobilize resources for development projects in BRICS countries and other developing nations, with a focus on reducing poverty, promoting economic growth, and fostering cooperation among member states.

By Naila Huseynova