Dilma Rousseff has been chosen as the new head of the BRICS bank

Former Brazilian President Dilma Rousseff (2011-2016) Selected as The new head of the BRICS Development Banka forum in which Brazil will merge with Russia, India, China and South Africa, with a mandate until 2025, the entity reported on Friday.

“On March 24, 2023, the Board of Governors of the NBD (New Development Bank) unanimously elected ‘Rousseff’ as President of the Bank, effective immediately,” the body said in a note.

Rousseff was nominated for the position by her political godfather and the current Brazilian head of state, Luiz Inacio Lula da Silvain power since January 1.

The appointment is done On the eve of the state visit to ChinaBrazil’s largest trading partner, which Lula intends to implement starting next week.

NBD, headquartered in Shanghai, was created in 2014, when Rousseff was in charge of the Brazilian presidency, which succeeded Lula in 2011 and lasted until her impeachment in 2016 by Congress in a political trial for alleged erratic budget management.

Rousseff will replace the Brazilian diplomat at the helm of the BRICS Development Bank Marcos Prado Trujowho took office in 2020 and whose term ended in 2025, which will now be completed by the former Brazilian president.

Prado Trujo, whose candidacy had been promoted by former Brazilian President Jair Bolsonaro, resigned from his post on March 10, at which time a new selection process within the financial institution began.

The diplomat’s plans will now go by joining the San Pablo regional government, headed by Bolsonarista Tarcisio Gomez de Freitasaccording to the Brazilian press.

BRICS Development Bank focuses on financing Infrastructure projects in its five membersbut it also supports developing countries such as Bangladesh, Egypt and Uruguay, which are accepted as banking partners in 2021.

(with information from EFE)

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