Indonesia will officially become a member of the New Development Bank (NDB), a multilateral financial institution established by BRICS nations, President Prabowo Subianto announced on Tuesday.
Prabowo stated that joining the NDB would significantly aid Indonesia in accelerating its economic transformation. The NDB, which was created by Brazil, Russia, India, China, and South Africa, has expanded its membership to include additional nations such as Egypt, Ethiopia, Iran, and the United Arab Emirates.
The announcement came during a visit by NDB President and former Brazilian President Dilma Rousseff, who highlighted the bank's interest in collaborating with Indonesia on various sectors, including renewable energy, biodiesel, and technological development. Rousseff added that Prabowo had presented numerous potential projects for collaboration with the NDB.
Indonesia's membership in the NDB marks a strategic step in deepening its economic ties with the BRICS nations, and it is expected to open new avenues for investment and development in the country.
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Faced with mounting public outrage following one of the deadliest environmental disasters in the nation’s recent history, the Indonesian government has pledged to investigate and potentially shut down mining operations found to have contributed to the catastrophic flooding on Sumatra.
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