Algeria applies to join BRICS with $1.5 bln support

By Nada Ali On Jul 25, 2023

A delegate walks past a BRICS logo ahead of the 10th BRICS Summit, in Sandton, South Africa, July 24, 2018. (Photo Credit: Siphiwe Sibeko – Reuters)

Algerian President Abdelmadjid Tebboune announced on Friday that state applied to join the BRICS group and submitted a request to become a shareholder member of BRICS Bank with an amount of $1.5 billion.

The step focuses on creating new economic prospects for the oil and gas-rich nation in North Africa, as it seeks to diversify its economy and strengthen ties with countries like China.

More than 40 countries have expressed interest in joining the BRICS group of nations, South Africa’s top diplomat in charge of relations with the bloc said this week.