Serbia is taking concrete steps toward potential membership in the BRICS New Development Bank (NDB), a move that could significantly shift its financial partnerships and deepen cooperation with emerging economies.
The Serbian government confirmed that Minister without Portfolio Nenad Popović met with Andrey Borakov, Director General of the NDB’s Eurasian Regional Centre, to evaluate the country’s entry into the bank as early as 2026.
Founded in 2015 by Brazil, Russia, India, China and South Africa, the NDB has expanded to include the UAE, Bangladesh, Egypt and Algeria, with several other nations—Uruguay, Colombia and Uzbekistan—now in the process of joining. Serbia’s potential entry was the key focus of the meeting, marking the third round of consultations between Belgrade and the institution.
According to Borakov, “The New Development Bank is open to accepting new members and is ready to begin the negotiation process if the Serbian authorities submit an appropriate official request.”
The dialogue follows a prior meeting between Popović and NDB President Dilma Rousseff during the 2025 St. Petersburg International Economic Forum, underscoring Serbia’s growing interest in alternative financial structures amid shifting geopolitical currents. Popović emphasised that joining the bank could unlock sizeable development opportunities:
“Cooperation with the BRICS New Development Bank offers Serbia realistic prospects for implementing major infrastructure projects in transport, energy, digitalisation and medicine.”
If Serbia proceeds, the country would gain access to long-term, politically independent financing and the extensive expertise of BRICS economies. Popović is expected to brief President Aleksandar Vučić and Finance Minister Siniša Mali on the latest negotiation outcomes.
Serbia’s consideration of NDB membership reflects a broader regional trend: a search for diversified financial partnerships outside traditional Western-dominated institutions, especially amid global economic realignments.
