Former President of Brazil Dilma Rousseff began her work on Tuesday as president of the New Development Bank (NDB) of the BRICS group, formerly known as BRICS Development Bank.
The former Brazilian president was unanimously elected on Friday as head of the New Development Bank (NDB) of the BRICS group, made up of Brazil, Russia, India, China and South Africa, as part of its effort to build a new international financial architecture.
Rousseff was elected by vote among the BRICS Board of Governors, made up of the finance ministers of the member countries. Rousseff was suspended as president of Brazil in May 2016 and convicted in a far-right parliamentary impeachment, one of the numerous US-led lawfare attacks against progressive leaders in South America.
The NDB was born in 2015 with the aim of financing important infrastructure projects in developing economies. According to the NDB, “the Bank shall support public or private projects through loans, guarantees, equity participation and other financial instruments” and “shall cooperate with international organizations and other financial entities, and provide technical assistance for projects to be supported by the Bank.”
H.E. Mrs. Dilma Rousseff, the NDB newly elected President, has started her first day in office in the NDB Headquarters in Shanghai, China. pic.twitter.com/JOLblXhhzQ
— New Development Bank (@NDB_int) March 28, 2023
To carry out her duties, the former Brazilian president must live in the Chinese city of Shanghai, where the NDB headquarters are located.
BRICS emerged as an association of large, fast-growing economies to better represent developing countries and challenge the Western-dominated world order that has prevailed since the end of World War II.
Brazil’s ex-President Dilma Rousseff, who is newly-elected President of the New Development Bank of the BRICS, began her first day in office at the NDB Headquarters in Shanghai, China. pic.twitter.com/TdR93kgLa9
— Kawsachun News (@KawsachunNews) March 28, 2023
Experts believe that BRICS is a leading component of the new multipolar world, counteracting the unilateralism of the US. Currently, many countries are waiting in line to join BRICS, including Iran, Argentina and Zimbabwe.
BRICS members reject unilateral military interventions and economic sanctions that violate international law and the sovereignty of other nations around the world.
(HispanTV) with Orinoco Tribune content
Translation: Orinoco Tribune
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