TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Indonesia joins BRICS-backed New Development Bank
The decision came after Prabowo held a meeting with New Development Bank (NDB) president Dilma Vana Rousseff at the State Palace in Jakarta on Tuesday.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Service providers stand on the balcony of the Sandton Convention Centre ahead of the 2023 BRICS Summit in Johannesburg, on Aug. 21, 2023. (AFP/Marco Longari/)
I
ndonesia has decided to come on board the BRICS-sponsored multilateral development bank, which President Prabowo Subianto believes could help the country expedite its economic development.
The decision came after Prabowo held a meeting with New Development Bank (NDB) president Dilma Vana Rousseff at the State Palace in Jakarta on Tuesday, in which the two talked about the short-, medium- and long-term plans alongside the government's programs.
“I have decided to join the New Development Bank and follow its procedures and requests summoned upon us,” Prabowo was quoted as saying in a press statement released on the same day.
The bank was established in 2015 by the original five BRICS members that make up the organization's acronym, namely Brazil, Russia, India, China and South Africa.
“Thank you for asking us to join the NDB. I think the NDB can become a strong booster to accelerate our [economic] transformation strategy,” said Prabowo.
Rousseff welcomed Jakarta’s decision and said that getting Indonesia on board was among the NDB’s priorities due to its regional influence, according to the same statement.
The NDB brought Bangladesh, United Arab Emirates and Egypt into its fold in 2021. The body also admitted Uruguay as a prospective member in the same year and its website said the country will officially become a member once it deposits the instrument of accession.
