Algeria has officially become a member of the New Development Bank (NDB), the financial arm of the BRICS group, announced the Algerian Ministry of Finance. The membership was finalized during the ninth annual meeting of the NDB’s Board of Governors, held in Cape Town, South Africa.
The Ministry of Finance stated that Algeria's accession to this significant developmental institution marks a major step in integrating into the global financial system. Algeria is now the ninth country to join the New Development Bank.
The statement highlighted that the membership follows a rigorous evaluation, largely attributable to the strength of Algeria's macroeconomic indicators. This development reflects the robustness of the Algerian economy and opens new prospects for supporting and enhancing the country’s economic growth in the medium and long term.
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