An inauguration ceremony was held for Dilma Rousseff, an economist and former Brazilian president, as New Development Bank (NDB) president in Shanghai on Thursday.

Brazilian President Luiz Inacio Lula da Silva, who arrived in Shanghai on Wednesday night to kick off his state visit to China, attended the ceremony.

This is the first time that a head of state visited the NDB bank's headquarters in Shanghai and addressed the NDB staff in person. 

"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. In taking office as bank president, Ms. Dilma Rousseff brings her 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," said Lula in a speech.

Rousseff emphasized the bank's commitment to supporting Brazil's sustainable development goals and highlighted the importance of the presidential visit for strengthening the cooperation between the NDB and Brazil.

"As a former president of Brazil, I know the importance of the work of multilateral banks to support developing countries, particularly NDB, in addressing their economic, social and environmental needs. Becoming the president of the NDB is undoubtedly a great opportunity to do more for the BRICS, the emerging markets and developing countries, and my own country – Brazil," said Rousseff.

The Board of Governors of the NDB unanimously elected Rousseff as the president of the bank on March 24, 2023.

The NDB is a multilateral development bank established by Brazil, Russia, India, China and South Africa (BRICS) with the purpose of mobilizing resources for infrastructure and sustainable development projects in emerging markets and developing countries.

(Cover: The NDB headquarters in east China's Shanghai. /Xinhua)