Algeria is applying to join Brics bank, says president

Country joins Argentina and Honduras on list of applicants

Shanghai sunrise
Shanghai, headquarters of the New Development Bank

Algeria has become the latest country to apply to the ‘Brics bank’, a development lender backed by China.

Algerian president Abdelmadjid Tebboune told a broadcasting channel the country was applying to join the Brics organisation and its Shanghai-based New Development Bank. Since around 2009, the governments of Brazil, Russia, India, China and South Africa have formed an increasingly formal bloc.

“We sent a letter asking to be shareholder members in the bank,” Tebboune said. ”Algeria’s first

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