“Dilma Rousseff Eleita Presidente do Banco dos Brics em Xangai”

Dilma Rousseff, the former president of Brazil, has been elected as the new president of the BRICS New Development Bank (NDB) on Friday (24th). The decision was unanimous and takes effect immediately, after the NDB began the leadership transition process in early March.

Dilma will replace fellow Brazilian Marcos Troyjo, former special secretary for foreign trade and international affairs of the former Ministry of Economy, who has held the position since 2020. Dilma was nominated by Brazil to serve the rotating term, which expires on July 6, 2025.

The NDB was established in 2014 by the BRICS countries (Brazil, Russia, India, China, and South Africa), with a focus on infrastructure financing, and is seen as an alternative to the World Bank.

With a current investment portfolio of US$33 billion, the bank is based in Shanghai, China, and commenced operations in 2015.

As president, Dilma will earn approximately US$500,000 per year (approximately R$2.6 million, in direct conversion) and receive benefits such as medical assistance, travel allowances to the home country, subsidies for relocation in case of hiring and dismissal, and air transport.

During Troyjo’s tenure, the bank expanded its financing for Brazil, opened offices in São Paulo and India, and began the expansion process, with the entry of four countries as partners. Four other countries are negotiating membership.

Since the bank began operations in 2015, Brazil has received US$5.4 billion in loans, a significant increase from the US$621 million in 2015. The NDB has had a new headquarters since 2021, when it opened a new building in Shanghai, where Dilma will work.

Dilma’s appointment comes at a time of tension between Brazil and the United States after the collapse of two major banks in the US. Some experts question whether this could jeopardize Brazil’s investment partnership with the NDB and the BRICS countries.

The NDB has been an important source of financing for Brazilian infrastructure projects, contributing to the country’s efforts to modernize and improve its infrastructure. Brazil’s partnership with the NDB has also helped to reduce the country’s dependence on the World Bank and the International Monetary Fund (IMF).

According to experts, Dilma’s appointment is an important step forward for Brazil, as it strengthens the country’s relationship with other BRICS countries and positions Brazil as a leading player in the global economy.

Experts also believe that Dilma’s experience as president of Brazil will be valuable in her new role, as she has a deep understanding of the country’s economic and social challenges and has demonstrated a commitment to promoting sustainable development.

Dilma’s appointment as the new president of the NDB represents an important milestone for Brazil and the BRICS countries, as they continue to deepen their strategic partnership and play an increasingly important role in the global economy.