Indonesia Joins the New Development Bank

Indonesia has recently joined the New Development Bank (NDB), the BRICS bank, founded 10 years ago by the bloc’s five founding members. The country now joins Egypt, Ethiopia, Iran, and the United Arab Emirates as full members of this multilateral financial institution.

According to Dilma Rousseff, president of the NDB, Indonesia and the bank share key priorities such as logistical infrastructure, renewable energy, and urban modernization. Indonesian President Prabowo Subianto stated that joining the NDB will help accelerate the country’s economic transformation.