Dilma Rousseff Elected President Of BRICS New Development Bank

Former Brazilian President Dilma Rousseff (2011-2016) was elected president of the BRICS New Development Bank (NBD), a position she will hold until 2025.

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"On March 24, 2023, the Board of Governors of the New Development Bank [NBD] unanimously elected Her Excellency Dilma Vana Rousseff as president of the bank, effective immediately," the NDB reported via its official Twitter account. 

The former Brazilian president will complete until 2025 the term of Brazilian diplomat Marcos Prado Troyjo, who resigned from the post earlier this month. Troyjo took office as head of the BRICS NDB in 2020.

Troyjo's candidacy was pushed by former Brazilian President Jair Bolsonaro (2019-2023), while current Brazilian President Luiz Inácio Lula da Silva nominated Rousseff for the post.

Economist Dilma Rousseff was president of Brazil for two consecutive terms. In the first two governments of Luiz Inácio Lula da Silva (2003-2011) she was Minister of Mines and Energy and Chief of Staff, in addition to chairing the board of directors of the Brazilian oil company Petrobras.

The NDB, headquartered in Shanghai, China, was created in 2014 and aims to "mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries."

The BRICS group brings together Brazil, Russia, India, China, and South Africa, while the NDB admitted Bangladesh, Egypt, United Arab Emirates, and Uruguay as member countries in 2021.