Brazil’s former president Dilma Rousseff began leading the New Development Bank (NDB), also known as the BRICS Bank, which is headquartered in Shanghai, China, on the 28th of March.

Elected on the 24th of March, Rousseff will preside over the BRB until July 2025. She replaces Marcos Troyjo, former special secretary of the former Ministry of Economy, who had held the post since July 2020. An official inauguration ceremony for Rousseff was scheduled to take place at the end of March, during President Luiz Inácio Lula da Silva’s trip to China. However, the postponement of Lula’s trip due to health problems caused the solemnity to be canceled.

Created in December 2014 to expand financing for infrastructure projects and sustainable development actions in the BRICS and other emerging economies, the NDB currently has about US$32 billion in approved projects, of which about US$ 4 billion is invested in Brazil, mainly in highway and port projects.

(Source: Canal Rural)