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Former Brazilian President Dilma Rousseff elected as new President of BRICS Bank

Category : Appointment/Resignation
Published on: March 29 2023 Share on facebook

  • New Development Bank (NDB) has announced that former Brazilian President Dilma Vana Rousseff has been elected as the new President of the Bank, replacing Marcus Troyjo. 
  • NDB, also known as BRICS bank is a multilateral financial institution set up by the five BRICS countries including Brazil, Russia, India, China, and South Africa.
  • The economist, Dilma Rousseff, served as the President of Federative Republic of Brazil between January 2011 to August 2016. 
  • Rousseff was elected the President of Brazil for two consecutive terms.
  • Rousseff is a close associate of the current Brazilian President Lula da Silva, who defeated Jair Bolsonaro in the elections held in October last year.
  • Dilma Rousseff significantly expanded cooperation with several countries in Latin America, Africa, the Middle East, and Asia. 
  • In July 2014, she participated with the BRICS countries in the creation of the New Development Bank and the Contingent Reserve Arrangement.
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