The Board of Governors of the New Development Bank (NDB) has unanimously re-elected Dilma Rousseff to serve a second five-year term as president of the multilateral lender established by the BRICS bloc. Her new mandate, announced in a statement published by the NDB, will run from July 2025 through July 2030, reinforcing Brazil’s renewed engagement with the institution under President Luiz Inácio Lula da Silva.
The reappointment was swiftly welcomed by Cuban President Miguel Díaz-Canel, who called it “excellent news” and expressed confidence in Rousseff’s ability to advance inclusive and sustainable development. His endorsement, reported by Agencia Cubana de Noticias, reflects Havana’s broader support for alternative multilateral institutions that prioritise Global South interests over those of traditional Bretton Woods structures. Though Cuba is not a BRICS member, it has increasingly aligned itself with the bloc’s push for a rebalanced international financial order.
In a statement accompanying her reappointment, Rousseff reaffirmed the bank’s founding mission. “The New Development Bank remains dedicated to advancing its founding vision by mobilising resources for infrastructure and sustainable development projects in emerging markets and developing countries, while building capacity for technology and innovation, fostering economic growth and promoting social inclusion,” she said.
“Together, we will continue to build infrastructure, fostering inclusion, and creating a better, more sustainable future for BRICS and other EMDCs.” Her first term has seen the bank approve over $39 billion in financing for 120 projects, and expand membership to include Egypt, Bangladesh, the United Arab Emirates, and Uruguay — a signal of the NDB’s rising influence across emerging markets.
