BRICS bank expands as de-dollarization heats up

NDB President Dilma Rousseff earlier announced plans to transform the organization into "an important bank" for developing countries and emerging markets.

The BRICS New Development Bank (NDB) just added Algeria as its newest member, fuelling the bloc’s push for a multipolar financial world.

NDB President Dilma Rousseff hailed the move, stressing that Algeria will help boost the bank’s global influence.

The NDB was established by Brazil, Russia, India, China and South Africa in 2014.

The bank aims to mobilize resources for infrastructure and sustainable development projects in BRICS through the provision of loans, guarantees, and other financial instruments.