The New Development Bank, the multilateral bank set up by the BRICS states, said on Friday that its board of governors unanimously elected former Brazilian President Dilma Rousseff as its new president.
Former Brazilian President Dilma Rousseff has been elected Friday to head the New Development Bank (NDB), also known as the BRICS Bank to replace Marcos Troyjo, who had held the post since July 2020. Rousseff will remain at the helm of the Shanghai-based financial institution until the end of Brazil s mandate in July 2025. Each BRICS country (Brazil, Russia, India, China, and South Africa) chairs the bank for rotating five-year terms. She will take office later next week during President Luiz Inácio Lula Da Silva s visit.
Dilma will chair the NDB until July 2025, when Brazil's mandate at the institution, headquartered in Shanghai, ends. The inauguration will take place at the end of next week, during President Lula's trip to China.
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