https://en.sputniknews.africa/20231110/algerias-accession-to-brics-new-development-bank-in-full-swing-countrys-finance-minister-says-1063451414.html
Algeria's Accession to BRICS New Development Bank in Full Swing, Country's Finance Minister Says
Algeria's Accession to BRICS New Development Bank in Full Swing, Country's Finance Minister Says
Sputnik Africa
On August 22-24, during the BRICS Summit in the South African city of Johannesburg, Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates... 10.11.2023, Sputnik Africa
2023-11-10T14:35+0100
2023-11-10T14:35+0100
2023-11-10T14:35+0100
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Algeria's accession to the BRICS New Development Bank (NDB) is in full swing, this process is not linked to Algeria's entry into the BRICS group, the country's Finance Minister Laaziz Fayed said in an interview with the country's El Watan newspaper.According to Fayed, the bank's Board of Governors approved Algeria's request to join the institution on August 14.Earlier in July, Algerian President Abdelmadjid Tebboune said that his country's initial contribution to the NDB would amount to $1.5 billion. According to Tebboune, the BRICS countries "support Algeria more" than Western states do. He also mentioned that Algeria had previously officially requested to join the BRICS and the NDB.Following the results of the BRICS summit in August, during which six countries were invited to join the group, there were no official statements about the possible accession of Algeria to this organization. In late August, Algerian Foreign Minister, Ahmed Attaf said that Algeria, despite the country's non-admission to the BRICS, "will pursue further steps to join the New Development Bank and the Shanghai Cooperation Organization."It was decided to establish the New Development Bank within the framework of BRICS in 2013 at the summit in Durban, South Africa. In 2014, at the following summit in the Brazilian city of Fortaleza, an agreement on the bank was signed. The Bank officially started its work after the inaugural meeting of the Bank's Board of Governors on July 7, 2015 in Moscow. The main task of the institution is to finance infrastructure and sustainable development projects in BRICS member countries and developing countries.
https://en.sputniknews.africa/20231006/putin-says-possible-accession-of-algeria-to-brics-should-be-worked-out-calmly-1062582123.html
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economy, algeria, brics, brics expansion, brics summit, new development bank (ndb), north africa, china, south africa, abdelmadjid tebboune, johannesburg, argentina, the shanghai cooperation organization (sco)
Algeria's Accession to BRICS New Development Bank in Full Swing, Country's Finance Minister Says
On August 22-24, during the BRICS Summit in the South African city of Johannesburg, Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates were officially invited to join the group. Although Algeria's application for membership was not accepted, the country expressed its desire to have strong ties with the BRICS member states.
Algeria's accession to the BRICS New Development Bank
(NDB) is in full swing, this process is not linked to Algeria's entry into the BRICS group, the country's Finance Minister Laaziz Fayed said in an interview with the country's El Watan newspaper.
"Algeria's desire to join the NDB stems from its conviction of the need to diversify its multilateral development partners. In this regard, I confirm to you that Algeria's accession process to the NDB is well underway and on track," he said, adding: "the process of joining the NDB is separate from the process of joining the BRICS group."
According to Fayed, the bank's Board of Governors approved Algeria's request to join the institution on August 14.
Earlier in July, Algerian President Abdelmadjid Tebboune said that his country's initial contribution to the NDB would amount to $1.5 billion. According to Tebboune, the
BRICS countries "support Algeria more" than Western states do. He also mentioned that Algeria had previously officially requested to join the BRICS and the NDB.
Following the results of the
BRICS summit in August, during which six countries were invited to join the group, there were no official statements about the possible accession of Algeria to this organization. In late August, Algerian Foreign Minister, Ahmed Attaf said that Algeria, despite the country's non-admission to the BRICS, "
will pursue further steps to join the New Development Bank and the Shanghai Cooperation Organization."
It was decided to establish the
New Development Bank within the framework of BRICS in 2013 at the summit in Durban, South Africa. In 2014, at the following summit in the Brazilian city of Fortaleza, an agreement on the bank was signed. The Bank officially started its work after the inaugural meeting of the Bank's Board of Governors on July 7, 2015 in Moscow. The main task of the institution is to finance infrastructure and sustainable development projects in BRICS member countries and developing countries.
