RIO DE JANEIRO — Colombia and Uzbekistan have joined the New Development Bank (NDB), expanding the membership of the multilateral lender commonly known as the Brics Bank, the institution’s president, Dilma Rousseff, announced Saturday, July 5, 2025.
The announcement came at a press conference following the 10th meeting of the NDB Board of Directors, held ahead of the 17th Brics Summit scheduled for Sunday and Monday.
The bank’s Board of Governors approved the accession of the two countries, bringing the total membership to 11.
The current members are Brazil, Russia, India, China, South Africa, Bangladesh, the United Arab Emirates, Egypt, Algeria, Colombia and Uzbekistan.
“We have several other countries under observation and review, and they may join the bank in the future,” said Rousseff, adding that negotiations remain confidential as per the board’s decision.
She said the bank’s mission is to serve the Global South and aims to finance innovation, science and technology to help Brics countries address the challenges of the Fourth Industrial Revolution.
Rousseff emphasized that the NDB respects member countries’ sovereignty and development priorities, and does not impose projects or lending conditions.
“One of our key differences is that all members are equal, and every voice is heard,” she said.
She described the NDB as a 21st-century institution rooted in solidarity, equity, and respect for national sovereignty.
Established in 2015 by Brazil, Russia, India, China and South Africa, the NDB is a multilateral development bank that mobilizes resources for infrastructure and sustainable development projects in Brics countries, as well as other emerging market economies and developing nations.
Headquartered in Shanghai, the NDB has approved more than 120 investment projects worth $40 billion, covering key sectors such as clean energy and energy efficiency, transport infrastructure, environmental protection, water supply and sanitation, social infrastructure, and digital infrastructure. / XINHUA