The New Development Bank (NBD) of the Brics group unanimously agreed this Friday to appoint former Brazilian president Dilma Rousseff as its new president.

The president of Brazil, Luiz Inácio Lula da Silva, had obtained the support of his Brics partners (Brazil, Russia, India, China and South Africa) in mid-February for the appointment of Rousseff and his new position was confirmed this Friday, which he will take over immediately.

The entity exercises its role as a development bank. Founded by the member nations of the Brics group, it has the objective of representing an alternative to the World Bank or the International Monetary Fund. The entity is headquartered in Shanghai, China.

Rousseff, who was president of Brazil between 2011 and 2016 will now lead the organization until July 2025. The bank itself has highlighted that Rousseff participated in the creation of the entity in 2014.

Source: dpa

(Reference image source: Matheus Câmara da Silva, Unsplash)

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