Politics
Dilma receives Friendship Medal from Xi Jinping
Former president received highest foreign honor for strengthening ties between Brazil and the Asian country
The former president Dilma Rousseff (PT) received this Sunday (September 29, 2024) the Chinese Friendship Medal, the highest decoration awarded 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 contribution to the modernization of the Chinese economy.
The delivery took place during an event celebrating 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 has achieved such important achievements today”the former president said.
The information was published by the state news agency China.
Rousseff chairs the New Development Bank (NBD), known as the BRICS Bank and headquartered in Shanghai, China.
The Brics are a group of emerging economies formed by Brazil, Russia, India, China, South Africa, Egypt, the United Arab Emirates, Ethiopia and Iran.
Since 2009, China has been Brazil's main trading partner.
UNDERSTAND HOW NDB WORKS
The Brics are a political-economic bloc formed by emerging countries BBrazil, A.sisia, India, CChina and Africa Sul(SSouth Africa,In English). One of the group's most important pillars is its bank, NDB (New Development Bank).
The Brics countries signed the agreement to found the NDB in 2014. The bank began operating in 2016 with initial funding of $100 billion. Invests in infrastructure and sustainability work in emerging countries. Compete with World Bank and with the Inter-American Development Bank.
Brazil has stepped up its participation in BRICS loans since 2019, when Brazilian Marcos Troyjo joined the institution's board of directors. The following year, he became president.
In 2023, Troyjo was replaced by the former president of Brazil, Dilma Roussef. She was appointed by the current president of the country, Luiz Incio Lula da Silva (PT). He remains president of the bank until July 2025. The institution is seeking to expand its financing and is studying the membership of more partners.
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