TUNIS, July 21 (Reuters) - Algeria has applied to join the BRICS group and submitted a request to become a shareholder member of BRICS Bank with an amount of $1.5 billion, Ennahar TV quoted Algerian President Abdelmadjid Tebboune as saying.
It added that Tebboune said at the end of his visit to China that Algeria had sought to join the BRICS to open new economic opportunities.
The BRICS group of nations comprises Brazil, Russia, India, China, and South Africa.
"We officially applied to join the BRICS group, we sent a letter asking to be shareholder members in the bank ... Algeria's first contribution in the bank will be $1.5 billion," Ennahar quoted Tebboune as saying.
China will invest $36 billion in Algeria across sectors including manufacturing, new technology, the knowledge economy, transport, and agriculture, local media quoted Tebboune as saying this week.
Persons:
Abdelmadjid Tebboune, Tebboune, Algeria's, Ennahar, Tarek Amara, Louise Heavens, Alison Williams
Organizations:
BRICS Bank, United Arab, Democratic, Thomson
Locations:
TUNIS, Algeria, China, North Africa, Brazil, Russia, India, South Africa, South, Argentina, Iran, Saudi Arabia, United Arab Emirates, Cuba, Democratic Republic of Congo, Comoros, Gabon, Kazakhstan