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15th BRICS Summit: Egypt and Ethiopia officially members of the organization

04/01/2024
Source : ORISHAS FINANCE
Categories: Sectors

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On January 1, 2024, Egypt and Ethiopia were officially added to the members of the BRICS. They were admitted at the "serif">15th summit of this organization

held in South Africa last August.

Egypt and Ethiopia are among the five new members along with Saudi Arabia, the United Arab Emirates and Iran, joining South Africa, which until then was the only one on the continent to be part of the BRICS. In reality, Egypt had already joined the BRICS New Development Bank (NDB) last March, which has been operational since 2015, and whose objective is “to mobilize resources for infrastructure and sustainable development projects in emerging markets and developing countries”. For its part, Ethiopia is the second most populated country in Africa with 123 million inhabitants, behind Nigeria, which has 216 million

inhabitants.

noted that the BRICS is an important platform for cooperation between emerging markets and developing countries. It is composed of Brazil, Russia, India, India, China and South Africa.

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