Sun. Jun 16th, 2024
Algeria applies for BRICS Membership

Algeria applies for BRICS Membership

Algeria applies for BRICS Membership

Algeria will contribute USD 1.5bn in the BRICS Bank

Algerian President Abdelmadjid Tebboune announced that Algeria has applied for BRICS membership and requested to become a shareholder member of the BRICS Bank.

The country, rich in oil and gas resources, aims to diversify its economy. The BRICS group consists of Brazil, Russia, India, China, and South Africa, accounting for over 40 percent of the world’s population and approximately 26 percent of the global economy. More than 40 countries, including Argentina, Iran, Saudi Arabia, the United Arab Emirates, and Kazakhstan, have also expressed interest in joining the BRICS group.

BRICS New Development Bank, Home – New Development Bank (ndb.int)

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