In December of last year, Tebboune said that Algeria hoped to join BRICS in 2023.
"The BRICS organization will help us [in development] more than other international financial organizations have helped us to date," the Algerian president said at a Saturday meeting with major Algerian media representatives.
Tebboune added that the BRICS bank contains $100 billion, which is a larger capital than that of the World Bank.
"BRICS will finance our projects, we will join their organization and unite politically," Tebboune said.
Algeria submitted its official application to join BRICS in November 2022. BRICS is an association of the world's major developing economies that was formed in 2006 to enhance cooperation among the member countries and elaborate common approaches to global economic challenges. The association comprises Brazil, Russia, India, China and South Africa but is looking to accept new members. Besides Algeria, the list of potential candidates for accession includes Argentina, Egypt, Iran, Saudi Arabia and Turkiye.