Algeria finalizes accession of its membership in BRICS Development bank

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.