President Luiz Inácio Lula da Silva and former President Dilma Rousseff.| Photo: Marcelo Camargo/Agência Brasil.

The directors of the New Development Bank (NDB), also known as Banco dos Brics, may elect former Brazilian president Dilma Rousseff as the institution’s new representative this Friday (24). The “Assembly of Governors” evaluates the nomination of Brazil to the presidency of the bank after the resignation of Marcos Troyjo, at the beginning of the month.

“The president of the NDB, Marcos Troyjo, will step down by March 24, 2023. The Board of Governors of the Novo Banco de Desenvolvimento will then elect a new president appointed by Brazil, to fulfill the rotating term that expires on July 6, 2025 After the election, the new president takes office”, said the NDB, in a note, on the occasion of Troyjo’s resignation.

According to information from Estadão, Dilma had already been questioned by the bank’s board members throughout this month, including representatives of the finance ministries of the founding countries (Brazil, Russia, India, China and South Africa) and of four new members (Bangladesh, United Arab Emirates, Egypt and Uruguay).

Upon assuming the presidency of the NDB to complete Brazilian management until 2025, Dilma will move to Shanghai and earn a salary of around US$ 500,000 a year (R$ 2.6 million), among other benefits. The nomination of the former president to the bank was announced by President Luiz Inácio Lula da Silva (PT) in mid-February.

The bank has not yet commented on the directors’ meeting.