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Indonesia Becomes the 11th Member of BRICS-Backed New Development Bank.

International | Dated: 29 Mar 2025

In March 2025, Indonesia officially became the 11th member of the Shanghai (China)-based New Development Bank (NDB), formerly known as the BRICS Development Bank. This strategic move aims to enhance Indonesia's access to funding for infrastructure projects and national development programs.

🎯 Key Highlights:

  • The decision was approved following a meeting between Dilma Vana Rousseff, President of NDB, and Prabowo Subianto Djojohadikusumo, President of Indonesia, at the State Palace in Jakarta, Indonesia.
  • The other 10 members of NDB are Algeria, Bangladesh, Brazil, China, Egypt, India, Russia, South Africa, the United Arab Emirates (UAE), and Uruguay.
  • In January 2025, Indonesia officially joined BRICS as the 10th member.

💡 Other Important Facts:

  • (i) The New Development Bank (NDB) was established in 2015 by BRICS nations—Brazil, Russia, India, China, and South Africa—to support sustainable development and infrastructure projects in Emerging Market Economies and Developing Countries (EMDCs).
  • (ii) The bank has an initial authorized capital of USD 100 billion, divided into one million shares valued at USD 100,000 each, ensuring financial strength for large-scale investments.
  • (iii) The first president of NDB was K.V. Kamath from India, who served from 2015 to 2020, contributing to the bank's early growth and strategic direction.

📚 Test Your Knowledge:

Recently, which country became the 11th member of the BRICS-backed New Development Bank (NDB)?

Correct Answer: Indonesia

🚀 Quick Recap:

About Indonesia

  • President: Prabowo Subianto Djojohadikusumo
  • Capital: Jakarta