On July 5 in Rio de Janeiro, the New Development Bank (NDB) officially welcomed Colombia and Uzbekistan as its newest members, marking a strategic expansion beyond its five founding BRICS partners.
Former Brazilian President and NDB President Dilma Rousseff underscored the bank's core mission: channeling financial support into infrastructure and sustainable development across the Global South. With the two newcomers, membership rises to seven countries, and more applications are currently under review.
Headquartered in Shanghai on the Chinese mainland, the NDB was established to provide an alternative funding model for emerging and developing economies. By collaborating with global financial institutions, the bank has financed projects in clean energy, transportation, and urban development, paving the way for inclusive growth.
For young entrepreneurs, policymakers, and changemakers, this move signals growing opportunities to tap into development financing that aligns with sustainability goals. As the NDB broadens its reach, its evolving portfolio offers a fresh lens on global economic cooperation and impact-driven investment.
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Colombia & Uzbekistan join BRICS nations' New Development Bank
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