Algeria applies to join BRICS, would contribute $1.5 bln to group bank

algeria-applies-to-join-brics,-would-contribute-$1.5-bln-to-group-bank
Algeria applies to join BRICS, would contribute $1.5 bln to group bank

Algeria has expressed its desire to join the BRICS group and has submitted a request to become a shareholder member of BRICS Bank with a contribution of $1.5 billion, according to Algerian President Abdelmadjid Tebboune as reported by Ennahar TV. Tebboune stated during his visit to China that Algeria aims to join the BRICS in order to explore new economic opportunities. As a country rich in oil and gas resources, Algeria is looking to diversify its economy and strengthen its partnership with countries like China. The BRICS group consists of Brazil, Russia, India, China, and South Africa, representing over 40% of the world’s population and approximately 26% of the global economy. Tebboune confirmed Algeria’s official application to join the BRICS group and stated that their initial contribution to the bank would be $1.5 billion. Over 40 countries, including Argentina, Iran, Saudi Arabia, the United Arab Emirates, Cuba, Democratic Republic of Congo, Comoros, Gabon, and Kazakhstan, have expressed interest in joining the BRICS group. Additionally, China has pledged to invest $36 billion in Algeria across various sectors such as manufacturing, new technology, the knowledge economy, transport, and agriculture, as reported by local media.

About News Team

Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

Have a tip we should know? tips@rhd.news

Most Read

  1. News
    Pandora Papers Financial Leak Shows Us the Secrets of the World’s Rich and Powerful
    3 years ago
  2. Health
    US Supreme Court Rejects J & J TALC Cancer Case Appeal
    3 years ago
  3. Lifestyle
    9 Habits that Drain your Daily Focus and How to Avoid Them
    3 years ago
  4. BUSINESS
    Women’s Demand for Shapewear – the big Trends
    3 years ago
  5. BUSINESS
    Valentino Launches its Cosmetics Line
    3 years ago
  6. Health
    US Promises to Share 60 million Doses of AstraZeneca Vaccines
    3 years ago
  7. Health
    UK Offers Aid Amid Surging COVID-19 Cases in India
    3 years ago
  8. Sports
    Thousands of fans welcome Charlton funeral cortege at Old Trafford
    7 months ago
  9. News
    Brit left fighting for life after train derails in Argentinia
    7 months ago
  10. BUSINESS
    Dubai faces down airline rivals with $50 bln jet orders
    7 months ago
  11. Sunak
    UK’s Sunak brings back Cameron, sacks Braverman
    7 months ago
  12. Sports
    Man United’s Hojlund, Eriksen withdrawn from Denmark team duty
    7 months ago
  13. Health
    Autumn Sneezing Syndrome is on the rise… here’s what you can do
    7 months ago
  14. Canada
    Canada beat Italy to win Billie Jean King Cup for first time
    7 months ago

Follow @rushhourdaily: