Former president was awarded the highest honor to foreigners for strengthening ties between Brazil and the Asian country
The former president Dilma Rousseff (PT) received this Sunday (September 29, 2024) the China Friendship Medal, the highest decoration granted by the Chinese government to foreigners. The medal was presented by Chinese President Xi Jinping.
According to the Chinese government, the justification would be Dilma’s contributions to the modernization of the Chinese economy.
The delivery took place during an event to celebrate the 75th anniversary of the founding of the People’s Republic of China.
“I feel very honored and proud to receive the Friendship Medal from a country that has an ancient history and that today has achieved such important achievements”said the former president.
The information was released by the state news agency Xinhua.
Rousseff presides over the New Development Bank (NBD), known as the “BRICS Bank” and headquartered in Shanghai, China.
Brics is a group of emerging economies formed by Brazil, Russia, India, China, South Africa, Egypt, United Arab Emirates, Ethiopia and Iran.
Since 2009, China has been Brazil’s largest trading partner.
UNDERSTAND HOW NDB WORKS
Brics is a political-economic bloc formed by emerging countries BBrazil, RussiaÍIndia, Whina and Africa Sul (Sout Africa, in English). One of the most important pillars of the group is its bank, the NDB (New Development Bank).
The Brics countries signed the agreement to found the NDB in 2014. The bank began operating in 2016 with initial financing of US$100 billion. Invests in infrastructure and sustainability works in emerging countries. Compete with World Bank and with the Inter-American Development Bank.
Brazil has intensified its participation in Brics loans since 2019, when Brazilian Marcos Troyjo joined the institution’s Board of Directors. The following year, he assumed the presidency.
In 2023, Troyjo was replaced by the former president of Brazil, Dilma Roussef. She was nominated by the current president of the country, Luiz Inácio Lula da Silva (PT). He remains president of the bank until July 2025. The institution seeks to expand its financing and is studying the adhesion of more partners.
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