Algeria has become the ninth member of the BRICS New Development Bank (NDB), a move aimed at strengthening its economic development and international cooperation.

Approved during the bank’s ninth annual meeting in Cape Town, Algeria’s membership will provide access to funding for sustainable infrastructure and development projects aligned with its national goals.

Key Points:

1. Algeria’s membership in the NDB was officially approved in August 2024, making it the ninth member country.
2. Joining the NDB is expected to support Algeria’s economic growth, particularly through infrastructure and sustainable development funding.
3. The membership aligns with Algeria’s strategic goal to diversify its economy and enhance partnerships with emerging economies.
4. Access to NDB resources will enable Algeria to implement large-scale development projects, promoting long-term sustainability.