Indonesia agrees to join BRICS New Development Bank

Jakarta, Mar 26 (Prensa Latina) The Indonesian government ratified on Wednesday its decision to join the New Development Bank (NDB), a multilateral development bank established by the five founding member states of the BRICS group.

March 26, 2025
09:03

Founded by Brazil, Russia, India, China, and South Africa a decade ago, the bloc accepted Indonesia’s entry as a full member by early 2025, to join Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE), which are also the bloc’s members.

Former Brazilian President Dilma Rousseff has been the Chair, since 2023, of the NDB, headquartered in Shanghai, China.

On Tuesday, she met with Indonesian President Prabowo Subianto in Jakarta to strengthen the strategic cooperation links between this nation and the financial institution.

The head of State expressed full interest in taking advantage of the opportunity provided by the BRICS membership, demonstrating Indonesia’s commitment to strengthening the NDB’s role as a partner for the progress of developing countries.

The BRICS currently accounts for about 40 percent of the global population and 37 percent of the world’s Gross Domestic Product (GDP) by purchasing power.

jrr/iff/kmg/msm