Algeria assessed the country's accession to the New BRICS Development Bank

Algeria's accession to the New BRICS Development Bank will have a positive impact on its economic development and attraction of external investments to the country, Algerian MP Al Sid Al-Sheikh Wahid noted to Izvestia.

"Currently, Algeria is interested in the BRICS bank. Algeria's accession will have a positive impact on its economy, especially it will affect mutual settlements between members in their national currencies," the MP told Izvestia.

The MP also noted that joining this structure will facilitate the investment of partners in Algeria, where "there are excellent conditions and investment climate that the state has been working on."

In July 2023, Algerian President Abdelmajid Tebboun announced the North African country's bid to join the shareholders of the New BRICS Development Bank. In August this year, it was reported that Algeria was authorized for membership in the bank.

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