Dilma Rousseff will head the group’s New Development Bank until the end of Brazil’s presidency in 2025

The BRICS nations – Brazil, Russia, India, China and South Africa – are working to develop their own financial infrastructure, including a joint payment network, with some member states having already switched to trade in local currencies in order to reduce dependence on the US dollar and euro.

The five BRICS economies currently account for more than 40% of the world’s population and nearly a quarter of global GDP.

https://www.rt.com/business/571321-brics-bank-brazil-dilma-rousseff/