Brazilian President Luiz Inacio Lula da Silva on Thursday attended the inauguration of former Brazilian President Dilma Rousseff as head of the New Development Bank (NDB), a multilateral development bank established by Brazil, Russia, India, China, and South Africa (BRICS).

This was after he arrived in China on Wednesday night for a state visit from April 12 to 15, accompanied by a delegation of senior officials and business people.

"The New Development Bank is the product of a partnership among BRICS countries with a view to creating a world with less poverty, less inequality, and more sustainability", said Lula at the NDB visit.

Lula said that Rousseff, who was the first female Brazilian president, brings extensive background and knowledge on public policies and the international scene, thus strengthening NDB's leading role in achieving a better world, without poverty or hunger.

In Rousseff's speech, she stressed the commitment of the NDB to support Brazil in achieving sustainable development goals and highlighted the importance of Lula's visit to strengthen the cooperation between the NDB and Brazil.

Previously, during the sixth BRICS summit, Rousseff emphasized the importance of BRICS and the bloc's vision. BRICS countries enjoy rich resources and are strong in agriculture, and BRICS nations should build a close and firm partnership, improve global governance, promote a multipolar world, and boost the democratization of international relations, Rousseff pointed out at the summit.

During the visit, Lula discussed with the NDB the ongoing and potential projects in Brazil such as renewable and clean energy, modern transport infrastructure and urban mobility, water and sanitation efficiency, and so on. 

Both sides explored the opportunities for further collaboration, including NDB's potential for supporting Brazil's efforts to mitigate the impact of climate change and promote green finance.

NDB was established to mobilize resources for infrastructure and sustainable development projects in emerging markets and developing countries. NDB has approved over $32.8 billion and 96 projects to its members as of December 31, 2022.