Dilma Offered New Term as BRICS Bank Head
Rousseff and Putin met earlier this week but it remains to be seen whether she is interested in the new job offer
Former Brazilian President Dilma Rousseff has been offered an extension of five years as the head of the New Development Bank (NDB), also known as the BRICS Bank, by Russian President Vladimir Putin. The offer was made during the BRICS Summit in Kazan, reported by Agencia Brasil on Thursday. Rousseff’s current term ends in July 2025.
Putin proposed the extension as Russia is at war with Ukraine and having a Russian leader at the helm of the BRICS bank could potentially cause issues for the financial institution. However, Rousseff’s advisors have not commented on whether she is interested in continuing as the bank’s president.
The NDB, with around 100 financed projects totaling approximately US$ 33 billion, plays a crucial role in the strategy of expanding investments in BRICS countries and the Global South. During this year’s BRICS summit, Rousseff advocated for more financing available in local currencies through specific platforms to meet the needs of member countries.