The governor of Buenos Aires province in Argentina, Axel Kicillof, engaged in a video conference with Dilma Rousseff, former President of Brazil and current chairwoman of the BRICS bank. The aim was to bolster collaboration ties and explore investment opportunities for Argentina’s largest territory. The BRICS New Development Bank offers an investment portfolio covering various sectors such as transport, renewable energy, water, sanitation, urban development, and environmental projects. Despite Argentina’s invitation to join BRICS effective January 1, the offer was declined after Libertarian Javier Milei assumed office on December 10.
Kicillof emphasised the importance of strengthening ties with BRICS to enhance the quality of life for Buenos Aires residents. The possibility of securing loans from the NDB was discussed during the meeting.
Having served as Economy Minister under Cristina Fernández de Kirchner, Kicillof shares close relations with former Brazilian President Luiz Inácio Lula da Silva, whose political heir was Rousseff. However, there are tensions between Milei and Lula due to criticisms made by Milei against the PT leader during his electoral campaign.
The NDB, headquartered in Shanghai, was established by Brazil, Russia, India, China, and South Africa. It primarily focuses on providing loans for infrastructure projects, with an annual funding capacity of up to $34 billion. Rousseff assumed the presidency of the NDB in April 2023 and will continue in this role until Brazil concludes its rotating presidency in July 2025.
