QNA:
Algerian President Abdelmadjid Tebboune revealed Friday evening that his country has applied to join the BRICS bank, with an estimated amount of $1.5 billion.
Tebboune said, in statements to Chinese television, that Algeria submitted an official request to join the New Development Bank in the BRICS organization.
which includes Brazil, Russia, India, China and South Africa, with the aim of opening new economic horizons.
noting that China was among the countries that provided assistance to Algeria in its development path.
after independence, in addition to that it was the first non-Arab country to recognize the Algerian interim government at the time.
He stated that his country is working on establishing joint projects with China in all fields, including railways.
mines and other sectors, in addition to its aspiration to establish a bilateral partnership in the field of space.
It is noteworthy that the New Development Bank was established by the BRICS countries, in July 2014.
on the basis of an intergovernmental agreement that was signed at the sixth summit of the group, which was organized in the Brazilian city of Fortaleza.
The bank aims to finance infrastructure projects and sustainable development in the countries of the group .
and developing countries, as it agreed throughout the period of its work to finance more than 90 projects, with a total of $ 32 billion.