The New Development Bank is a financial institution mobilizing resources for infrastructure and sustainable development projects.
It is a platform for collaboration and knowledge sharing among its member countries, the institution's president noted.
The country has become a full member, stated the director of the institution, Dilma Rousseff.
"Algeria plays an important role not only in the economy of Northern Africa, but also at a global scale, and will definitely contribute to enhancing NDB’s position in the global financial arena," the NDB president noted in a statement.
NDB’s membership expansion is in line with the Bank’s
strategy to become a leading provider of solutions for infrastructure and
sustainable development for emerging market economies and developing countries,
according to the statement.
