Bangladesh, Egypt, the UAE and Uruguay were admitted as new members of the bank in 2021 CAPE TOWN: Algeria has been authorized to become a member of the BRICS New Development Bank (NDB), the bank’s president, Dilma Rousseff, said on Saturday. A multilateral development bank, the NDB was established by the BRICS group of developing countries — Brazil, Russia, India, China and South Africa — in 2015. Bangladesh, Egypt, the UAE and Uruguay were admitted as new members of the bank in 2021 as part of an expansion drive. “We have a process to authorize new members to the bank ... Algeria was authorized to become a member of the bank,” Rousseff told journalists on the sidelines of the ninth annual meeting of the bank in Cape Town.