Colombia and Uzbekistan become official members of New Development Bank

Colombia and Uzbekistan have officially become members of the New Development Bank (NDB), the institution’s President, Dilma Rousseff, announced on Saturday.

The announcement came at a press conference held in Rio de Janeiro, Brazil, after the 10th meeting of the NDB's Board of Directors, ahead of the BRICS Summit scheduled for Sunday and Monday. This was reported by Xinhua News Agency, a partner of TV BRICS.

During the press conference, Rousseff confirmed the full membership of both countries in the bank. This expansion brings the total number of full members to eleven: Brazil, Russia, India, China, South Africa, the United Arab Emirates, Bangladesh, Egypt, Algeria, Colombia, and Uzbekistan.

Rousseff also noted that the applications of other countries are under review. "We have several other countries under observation and review, and they may join the bank in the future," she said, adding that negotiations remain confidential as per the board's decision.

One of these countries could be Malaysia, which, according to Prime Minister Anwar Ibrahim, will conduct a comprehensive review of potential membership in the NDB. The review will consider various factors, including the required commitments and the effectiveness of participating in the institution, as reported by Bernama, a partner of TV BRICS.

"Malaysia will thoroughly review the possibility of joining the NDB, taking into account various aspects, including the required commitments and the effectiveness of participation in the institution," he said.

Earlier, Colombian President Gustavo Petro had formally requested his country’s entry into the NDB during a meeting with Rousseff in Shanghai on 16 May, as part of his visit to China for a ministerial meeting between China and the Community of Latin American and Caribbean States (CELAC).

Photo:  Xinhua News Agency