Indonesian President Prabowo Subianto has announced that Indonesia will become a member of the New Development Bank (NDB), a multilateral financial institution founded by the BRICS nations.
This decision follows Indonesia’s recent full membership in the BRICS group. The announcement was made during a joint press conference with NDB President Dilma Rousseff, highlighting the potential benefits of this partnership for Indonesia’s economic transformation.
The NDB, established in 2014 and headquartered in Shanghai, China, focuses on financing sustainable development projects, especially in developing countries. With its regional office in South Africa, the bank aims to address infrastructure needs and promote long-term development.
Indonesia’s entry into the NDB is seen as a significant step toward strengthening its global economic position.
Prabowo emphasized that Indonesia’s membership in the NDB would provide vital financial support for projects aimed at accelerating the nation’s economic growth. Rousseff also noted that the bank is interested in collaborating with Indonesia on initiatives related to renewable energy, biodiesel, and technological development.
The partnership will open up opportunities for Indonesia to leverage NDB funding for various large-scale projects, further supporting its development goals. Indonesia’s participation as a member of the NDB is expected to strengthen economic cooperation with BRICS countries and open up new financing opportunities for various development projects in the country.
