Banco dos Brics begins change of command; Lula wants Dilma in the presidency

The New Development Bank (NDB), also known as Banco dos Brics, announced this Friday (10) the transition process for the departure of current president Marcos Troyjo. The command should be assumed by Dilma Rousseff (PT), as indicated by President Luiz Inácio Lula da Silva (PT).

Dilma’s choice, however, will only be confirmed after the election of the bank’s members, scheduled for after Troyjo’s official departure, on March 24. The date is close to that scheduled for Lula’s trip to China, on the 28th – the NDB’s headquarters are in Shanghai.

In the communiqué published on the bank’s website, the NDB does not mention Dilma’s appointment, it only states that the new president will remain in charge of the bank until July 2025.

“In line with the Bank’s procedures and high standards of governance, the election process for the position of President of the NDB is being conducted in a smooth and orderly manner”, it says in a note (see the full text in English).

According to the NDB, Troyjo’s management since July 2020 has made the institution “the main development bank for emerging economies”, with the introduction of an organizational structure aimed at more complex and specialized operations in the private sector, with a focus on management of project portfolio.

It also reports that Troyjo leaves the bank with a capital of US$ 10 billion paid in by its founding members, and with almost 100 projects in member countries in sectors such as clean energy, transport infrastructure, irrigation, water resources management and sanitation, development urban development, social infrastructure and environmental efficiency.

The NDB was created in 2014 and is formed by Brazil, Russia, India, China and South Africa.