Colombia and Uzbekistan join NDB ahead of 17th BRICS Summit

Colombia and Uzbekistan have officially joined the New Development Bank (NDB) just before the 17th BRICS Summit. This move increases the total number of NDB members to 11 countries. The announcement was made following the bank’s 10th Board of Directors meeting, as the bank continues to support growth and development in emerging nations.

New Members Strengthen NDB’s Global Reach

The New Development Bank, also known as NDB, was created in 2015 by the original BRICS nations—Brazil, Russia, India, China, and South Africa. Over time, more countries joined, including Bangladesh, UAE, Egypt, and Algeria. Now, with Colombia and Uzbekistan joining, the bank has 11 member countries.

The NDB is headquartered in Shanghai, China, and focuses on funding big infrastructure projects and supporting sustainable development in emerging economies.

Dilma Rousseff Highlights Focus Areas

Dilma Rousseff, the current President of the NDB, shared the bank’s future plans during a press conference. She said the bank will help countries in the Global South deal with changes brought by the Fourth Industrial Revolution—like digital change and new technology.

She added that the NDB will focus on innovation, science, and technology, especially in developing countries. The bank already supports more than 120 projects in areas such as clean energy, transport, environment, water and sanitation, and digital infrastructure.

What’s Next for NDB and BRICS

The 17th BRICS Summit is expected to take place soon. With the latest expansion, the NDB is becoming more global, reflecting the wider goal of BRICS to include voices from across the developing world.

By including Colombia and Uzbekistan, the NDB hopes to improve cooperation and bring more development funding to these regions. The move is also seen as a step to reduce dependence on Western financial systems.