Indonesia will join the New Development Bank (NDB) - a multilateral bank developed by BRICS member countries.
President Prabowo said that joining the BRICS bank as a member will help Indonesia speed up the economic transition process.
Mr. Prabowo made this announcement during the visit of NDB Chairman Dilma Rousseff.
Ms. Rousseff said that the BRICS bank is interested in cooperation in areas such as renewable energy and biofuel, as well as technology development.
The NDB chairman revealed to the press that Indonesian President Prabowo has presented dozens of projects that can cooperate with the NDB.
The NDB Bank, headquartered in Shanghai (China), was established by Brazil, Russia, India, China and South Africa ( BRICS) in 2015, to mobilize resources for infrastructure and sustainable development projects at BRICS and other emerging economies.
Dilma Rousseff is a prominent Brazilian economist, former President of Brazil, sworn in as Chairwoman of the NDB in 2023.
According to Xinhua, in its development history, the BRICS New Development Bank has developed from a startup to a major development solution provider, with a project portfolio including investments in areas such as clean energy, urban transport, water, sanitation, transportation, social infrastructure and digital.
The BRICS group includes Brazil, Russia, South Africa, China, India, Egypt, Ethiopia, Iran and the United Arab Emirates (UAE). On January 6, 2025, Indonesia officially joined BRICS as a full member.
BRICS pursues openness, coverage, and win-win cooperation, which is reflected in efforts to expand the NDB. In 2021, the NDB Bank began expanding its membership, adding new members such as Bangladesh, Egypt, the United Arab Emirates and Uruguay, helping to increase the number of more than 280 million people who can benefit from the bank's mission and strengthen the bank's global access activities.
