Egypt became a member of BRICS Bank

Created by the BRICS countries (Brazil, Russia, India, China and South Africa), the New Development Bank (NDB) has approved the inclusion of another new member, which will be Egypt.

According to TASS, NDB President Markus Troijo called Egypt “one of the fastest growing countries in the world, a major economy in the African continent and the Middle East, as well as a key player in financial development institutions.”

Egypt became another member of the bank after the financial institution expanded in September 2021 with the UAE, Uruguay and Bangladesh. The main task of the NDB is to finance infrastructure and sustainable development projects in the BRICS countries and developing countries. During his work, a total of about 80 projects were approved to support such areas as transport, water supply, clean energy, digital and social infrastructure, as well as urban construction.

Let us remind you that the XIII BRICS Summit was held in September in a videoconference format. It was attended by the leaders of Russia, Brazil, India, China and South Africa. One of the main issues on the agenda of the meeting of the Five was the situation in Afghanistan.

Source: rg.ru