Algeria’s membership of BRICS will help the country’s development more than international financial institutions have helped it over its history, Algerian President Abdelmajid Tebboun said. The statement by the Algerian head of state was made during a meeting with the editors-in-chief of the country’s major media. A video of the meeting was published by Tebboun’s office.
“The BRICS organisation will help us (in development) more than other international financial organisations have helped us so far,” Tebboun said, when asked about the country’s accession to BRICS.
He said the capital of “the BRICS bank contains $100 billion, more than the World Bank”.
“BRICS will finance our projects, we will be part of their organisation and we will be politically united. This is a strength,” the Algerian leader said.
Tebboun had earlier said his country hoped to join BRICS in 2023.
BRICS unites Brazil, Russia, India, China and South Africa. Several other countries intend to join the economic bloc, including Argentina, Iran and, according to the Chinese Foreign Ministry, Indonesia, Turkey, Saudi Arabia and Egypt. South Africa took over the BRICS presidency from China earlier this year. It will last until the end of 2023, before being handed over to the next country.
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