China Welcomes Dilma Rousseff as Head of BRICS’ Bank

BEIJING (Sputnik) - China welcomes Dilma Vana Rousseff, former president of Brazil, as president of BRICS’ New Development Bank (NDB), Chinese Foreign Ministry Spokesperson Mao Ning said at a press conference on Thursday.

The former Brazilian president was unanimously elected as president of the multinational bank by NDB’s Board of Governors last Friday. Rousseff will replace Marcos Troyjo, a Brazilian diplomat and economist.

"Mrs. Dilma Vana Rousseff, a renowned stateswoman and economist devoted to global development over the years, enjoys high prestige and significant influence in the world. China welcomes the assumption of office by Mrs. Rousseff [...] We believe that under her wise and professional leadership, and with the concerted efforts of all member states, the NDB will realize greater achievements and development, and make greater contribution to the development and prosperity of emerging economies and developing countries, including BRICS countries," Mao said.

Rousseff served as Brazilian president from 2011 to 2016. She was impeached in August 2016 after the parliament accused her of misusing public funds.

The NDB is an international financial institution established in 2014 following the BRICS summit by an agreement between Brazil, Russia, India, China and South Africa. It aims to mobilize resources for infrastructure and sustainable development projects in BRICS countries, as well as other emerging market and developing countries through the provision of loans, guarantees, and other financial instruments as part of state and private projects.