Dilma Rousseff is elected president of the Bank of BRICS

The former president of the Republic Dilma Rousseff was elected this Friday (24) president of the New Development Bank (NDB), also known as Banco do Brics. She replaces Marcos Troyjo, former special secretary of the former Ministry of Economy, who held the post since July 2020. Dilma will preside over the NDB until July 2025, when Brazil’s term in charge of the financial institution, which is based in Shanghai , in China. An official inauguration ceremony for Dilma is scheduled for the end of next week, during President Luiz Inácio Lula da Silva’s trip to China. Headquarters of the NDB (Banco do Brics), which will be commanded by former president Dilma Rousseff – Reuters/Bai kelin/Rights Reserved Although the bank announced the replacement of Troyjo by Dilma on the last 10th, the election of the bank’s Board of Directors it just happened this friday. Each BRICS country – Brazil, Russia, India, China and South Africa – chairs the bank for five-year rotating terms.“As President of Brazil, Dilma Rousseff has focused her agenda on ensuring the country’s economic stability and job creation. . Furthermore, during her government, the fight against poverty took priority, and the social programs initiated under President Luiz Inácio Lula da Silva were expanded and recognized internationally. As a result of one of the most extensive poverty reduction processes in the country’s history, Brazil was removed from the United Nations Hunger Map”, the NDB said in a note. The statement also recalled that, during her government, Dilma promoted respect sovereignty of countries and the defense of multilateralism, sustainable development, human rights and peace. The text highlighted that the former president expanded cooperation with several countries in Latin America, Africa and Asia, participated in the founding of the NDB in 2014 and played a decisive role in the Paris Agreement on the environment in 2015. Challenges According to experts interviewed by the Agency Brazil, the future president of Banco do Brics will have the opportunity to expand the institution’s international presence, but will face two major challenges: boosting projects related to the environment and circumventing the geopolitical impact of Western retaliation against Russia, one of the founding partners.Created in December 2014 to expand funding for infrastructure projects and sustainable development projects in the BRICS and other emerging economies, the NDB currently has about US$32 billion in approved projects. Of this total, approximately US$ 4 billion is invested in Brazil, mainly in highway and port projects. In 2021, the Bank of Brics was joined by the following countries: Bangladesh, Egypt, United Arab Emirates and Uruguay.

Agência Brasil