Indonesia to Join BRICS New Development Bank: President

Indonesia’s president announced on Tuesday that the country will become a member of the New Development Bank (NDB), a multilateral institution established by BRICS nations, Anadolu Agency reported. Prabowo Subianto stated that the decision followed discussions with the bank and Indonesia’s financial team, as reported by the local English daily, Tempo.

“After a review by the finance minister and further discussions, I have decided to proceed with joining the New Development Bank and comply with the necessary procedures and requests,” Prabowo was quoted as saying.

The NDB, founded in 2014 by BRICS—comprising Brazil, Russia, India, China, and South Africa—has its headquarters in Shanghai and regional centers in Africa. It began with an initial capital of $100 billion, contributed by the founding members. BRICS now represents 40% of the global population and 35% of the world’s GDP, solidifying its role as a significant geopolitical entity, with recent expansions including 13 new partner countries.