Colombia and Uzbekistan Join BRICS Bank
- TPP
- Jul 7
- 3 min read

In a significant expansion ahead of the upcoming 17th BRICS Summit, Colombia and Uzbekistan have officially joined the New Development Bank (NDB), raising the bank’s total membership to 11 countries. The announcement was made by NDB President Dilma Rousseff during a press conference held in Rio de Janeiro, Brazil, following the bank’s 10th Board of Directors meeting. This development marks a pivotal moment for the multilateral lender, also referred to as the BRICS Bank, which was established in 2015 by the original BRICS nations—Brazil, Russia, India, China, and South Africa.
The NDB was created with a clear mission: to mobilize resources for infrastructure and sustainable development projects in BRICS countries and other emerging economies. Since its inception, the bank has approved more than 120 investment projects worth around $40 billion, spanning critical sectors such as clean energy and energy efficiency, transportation, environmental protection, water and sanitation, social infrastructure, and digital infrastructure.
With the accession of Colombia and Uzbekistan, the NDB’s membership now includes:
Brazil, Russia, India, China, South Africa (the original BRICS members),
Bangladesh, the United Arab Emirates (UAE), Egypt, Algeria, and
Colombia and Uzbekistan.
Rousseff emphasized that the bank’s expanding membership strengthens its regional representation and underscores its commitment to the Global South—a term referring broadly to developing and emerging nations, particularly in Africa, Asia, and Latin America.
“We have several other countries under observation and review, and they may join the bank in the future,” she noted, though discussions remain confidential as per the board’s decision.
A core focus of the NDB, Rousseff highlighted, is to support countries in navigating the Fourth Industrial Revolution—a term that refers to the ongoing transformation driven by emerging technologies such as AI (Artificial Intelligence), IoT (Internet of Things), blockchain, and advanced robotics. The bank intends to do this by financing innovation, science, and technology, especially in emerging markets.
From a geopolitical standpoint, the inclusion of Colombia and Uzbekistan into the NDB reflects the institution’s growing inclusiveness and strategic vitality. According to Song Wei, professor at the School of International Relations and Diplomacy at Beijing Foreign Studies University, this enlargement not only increases the bank’s efficiency but also enhances its practical value in promoting mutual growth and protecting multilateralism—a term that refers to international cooperation among multiple countries, typically within institutions like the UN or WTO.
Looking ahead, the NDB is set to enter what Rousseff described as its “second golden decade,” with a deeper focus on infrastructure development, energy transition, industrial capacity building, and scientific and technological innovation—all essential components of sustainable development for the Global South.
This latest expansion not only strengthens the NDB as a platform for emerging markets but also reinforces the role of BRICS in shaping a more multipolar and equitable international financial system. For India, a founding BRICS member and an emerging economic powerhouse, the growing stature of the NDB aligns with its aspirations to lead in global South-South cooperation and sustainable growth.
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