Colombia has formally applied to join the China-based New Development Bank, deepening Latin America’s growing alignment with Beijing as regional leaders react to U.S. policy shifts under President Donald Trump.
Colombian President Gustavo Petro concluded his visit to China with a stop in Shanghai, where he met Dilma Rousseff, the former Brazilian president and current head of the New Development Bank (NDB). The institution was established by BRICS nations—Brazil, Russia, India, China and South Africa—as an alternative to Western-dominated lenders such as the World Bank and the Inter-American Development Bank.
Colombia’s request to join the NDB marks a notable geopolitical shift. Petro announced that his government plans to purchase $512 million in shares in the bank, signaling its long-term financial and strategic commitment to the institution.
“We see the New Development Bank as a platform to transform our infrastructure and unlock Colombia’s potential as a strategic bridge between Asia and Latin America,” Petro told reporters on Saturday. He highlighted a proposed 120-kilometer canal or railway linking Colombia’s Pacific and Atlantic coasts as a project that could benefit from NDB financing. “It would place us at the very heart of intercontinental trade,” he said.
Since its founding in 2014, the NDB has approved more than $40 billion in loans for 122 infrastructure projects, ranging from sanitation to clean energy and transport, according to Rousseff.
The move comes amid a broader regional realignment. As the Trump administration enacts stricter immigration rules, withdraws foreign aid, and increases tariffs, Latin American nations have increasingly turned toward China for investment and partnership.
Analysts say Colombia’s application reflects the changing dynamics of global development finance and underlines Beijing’s expanding influence in the Western Hemisphere. If accepted, Colombia would become one of the few Latin American nations formally tied to the BRICS bank, further consolidating a trend of economic diversification away from Washington.
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Türkiye and Azerbaijan are deepening defense ties with two major joint military drills in Nakhchivan this June, aiming to strengthen strategic cooperation and regional readiness.
European foreign ministers agreed to increase pressure on Russia by imposing new sanctions targeting its energy and banking sectors amid ongoing conflict with Ukraine.
As G7 leaders prepare to meet, most member states are ready to cut the Russian oil price cap to $45 even without U.S. backing.
NVIDIA unveiled plans on Wednesday to build the world’s first industrial AI cloud in Germany, aiming to revolutionize European manufacturing with a 10,000-GPU facility and partnerships with industry leaders like BMW, Siemens, and Mercedes-Benz.
EU Council President Antonio Costa celebrated the 40th anniversary of Portugal's EU accession, hailing it as the catalyst for the nation's most significant period of social and economic development and a testament to European solidarity.
Türkiye and Azerbaijan are deepening defense ties with two major joint military drills in Nakhchivan this June, aiming to strengthen strategic cooperation and regional readiness.
European foreign ministers agreed to increase pressure on Russia by imposing new sanctions targeting its energy and banking sectors amid ongoing conflict with Ukraine.
As G7 leaders prepare to meet, most member states are ready to cut the Russian oil price cap to $45 even without U.S. backing.
NVIDIA unveiled plans on Wednesday to build the world’s first industrial AI cloud in Germany, aiming to revolutionize European manufacturing with a 10,000-GPU facility and partnerships with industry leaders like BMW, Siemens, and Mercedes-Benz.
Azerbaijan is advancing its green energy agenda, with bold targets and regional projects discussed at the IEA’s global energy efficiency conference.
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