Indonesia will become the new member of BRICS' New Development Bank

Why in news?

• Recently Indonesia has agreed to join the New Development Bank established by the BRICS group.

Key points:

• The New Development Bank (NDB) currently has 8 members.
• Indonesia will become the 9th member.
• It was announced on 25 March 2025.
• Indonesia became the 10th full member of BRICS on 6 January 2025.
• Indonesia is the first BRICS member country from Southeast Asia.

About New Development Bank (NDB):

• Establishment: Year 2015
• Objective: To provide financial assistance to infrastructure and sustainable development projects in emerging markets and developing countries.
•  Member countries:
  • Founding members (5): Brazil, Russia, India, China, South Africa
  • New members (3): Bangladesh, UAE, Egypt
  • Total members (8): Currently
  • Indonesia: Will soon become the 9th member
  • Headquarters and regional offices
  • Headquarters: Shanghai, China
• Regional offices:
  • India: GIFT City, Gujarat (2022)
  • Africa: Johannesburg, South Africa (2017)
  • America: Sao Paulo, Brazil (2019)
  • Eurasia: Moscow, Russia (2020)
• Current President: Dilma Rousseff (Brazil)