Algeria admitted to BRICS New Development Bank

Algeria's membership to join the BRICS-run global bank has been approved, NDB chief and former Brazilian President Dilma Roussef confirmed to media on Saturday.Established in 2015, the NDB offers resources to encourage development projects in emerging markets as an alternative to the World Bank and the IMF.Bangladesh, Egypt, the United Arab Emirates and Uruguay were admitted as new members of the bank in 2021.Source: National news agency - Lebanon