Colombia and Uzbekistan have officially joined the New Development Bank (NDB), marking a significant step in the expansion of the multilateral lender founded by BRICS nations. The announcement was made by NDB President Dilma Rousseff during a press conference in Rio de Janeiro, following the bank’s 10th Board of Directors meeting.
With these new additions, the NDB’s membership rises to eleven countries, now including Brazil, Russia, India, China, South Africa, the United Arab Emirates, Bangladesh, Egypt, Algeria, Colombia, and Uzbekistan.
“The bank is a 21st-century institution rooted in solidarity, equity and respect for national sovereignty,” said Rousseff. “One of our key differences is that all members are equal, and every voice is heard.”
Rousseff emphasized the bank’s mission to serve the Global South, supporting infrastructure and sustainable development projects aligned with national priorities. Since its establishment in 2015, the Shanghai-headquartered institution has approved over $40 billion in investments across more than 120 projects, focusing on clean energy, transportation, sanitation, and digital infrastructure.
Colombia’s accession follows President Gustavo Petro’s formal request during a visit to China in May, where he met Rousseff at a China–CELAC ministerial meeting. Uzbekistan’s membership similarly signals its intention to deepen economic engagement with emerging economies.
Rousseff also hinted at further expansion. “We have several other countries under observation and review,” she noted, though declined to name them due to confidentiality rules. One potential future member is Malaysia, where Prime Minister Anwar Ibrahim has announced a comprehensive review of joining the bank.
With its growing membership and influence, the NDB continues to position itself as a vital financial pillar for the Global South—promoting development without imposing the conditions often associated with traditional lenders.
