The President of the New Development Bank (NDB) of the BRICS, Markus Troijo, will terminate his duties ahead of schedule. The TASS agency reports about the imminent resignation with reference to the official website of the financial institution.
“The New Development Bank has initiated a leadership change process that is taking place in a mutually agreed manner and in accordance with the bank's management procedures. NDB President Marcus Troijo will retire by March 24, 2023. The Board of Governors of the New Development Bank will then elect a new president nominated by Brazil under the current rotating mandate expiring July 6, 2025”, - the statement said.
Marcus Troijo took over the position in 2020, succeeding Indian Kundapur Vaman Kamath. The reasons for leaving are not disclosed. Also, the bank has not yet specified the date of the election of the new president of the NDB.
