Current Affairs - International - Discussion

Algeria has officially become a new member of the New Development Bank (NDB), which was originally established by the BRICS nations—Brazil, Russia, India, China, and South Africa—during the 6th BRICS Summit held in Fortaleza, Brazil in 2014. The bank aims to support infrastructure and sustainable development projects in emerging economies. Initially exclusive to BRICS countries, NDB has gradually expanded its membership to include several other nations such as Bangladesh, Egypt, the UAE, Uruguay, and now Algeria. The inclusion of Algeria signifies the bank’s growing global footprint and its effort to promote inclusive economic growth. The NDB headquarters is located in Shanghai.