Former Brazilian President Dilma Rousseff named new President of BRICS New Development Bank

Former Brazilian President Dilma Rousseff named new President of BRICS New Development Bank: The New Development Bank (NDB), also known as the BRICS bank, is a multilateral financial institution founded by Brazil, Russia, India, China, and South Africa. Its new President is former Brazilian President Dilma Vana Rousseff. She replaces Marcus Troyjo in the position. Dilma Rousseff is an economist who served as the President of the Federative Republic of Brazil for two consecutive terms, from January 2011 to August 2016.

March 2023 Current Affairs Quiz

Who is Dilma Vana Rousseff?

Dilma Vana Rousseff is a Brazilian economist and politician who served as the 36th President of Brazil from 2011 to 2016. She was the first woman to be elected President of Brazil. Prior to her presidency, Rousseff served as President Luiz Inácio Lula da Silva’s Chief of Staff from 2005 to 2010. She was also the Minister of Mines and Energy from 2003 to 2005. In 2016, Rousseff was impeached and removed from office on charges of violating budgetary laws. Prior to entering politics, Rousseff was a guerrilla fighter during Brazil’s dictatorship, and she was imprisoned and tortured for several years.

Dilma Rousseff previously served as Brazil’s Minister of Mines and Energy and as Minister Chief of Staff during the first two governments of President Luiz Inácio Lula da Silva until 2010. During her presidency, Rousseff prioritised economic stability and job creation while also implementing social programmes to combat poverty. Her efforts led to Brazil being removed from the UN’s Hunger Map due to successful poverty reduction. Rousseff promoted multilateralism, sustainable development, human rights, and peace on the international stage, while also respecting the sovereignty of all nations. She played an active role in international discussions on climate and environmental protection, culminating in Brazil’s key role in achieving the Paris Agreement. In July 2014, Rousseff expanded Brazil’s cooperation with other countries in various regions, including the establishment of the New Development Bank and the Contingent Reserve Arrangement with the BRICS countries. As President of NDB, Rousseff’s leadership was instrumental in the success of these initiatives.

Important takeaways for all competitive exams:

    New Development Bank (NDB) Founded: 15 July 2014;

    New Development Bank (NDB) HQ: Shanghai, China.

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