REPUBLIKA.CO.ID, JAKARTA -- Indonesian President Prabowo Subianto said the Indonesian Government decided to join the New Development Bank (NDB) as a multilateral development bank established by the BRICS countries. The Indonesian Government's decision to join the NDB came after NDB President Dilma Vana Rousseff invited Indonesia to join the bank's membership, given that Indonesia has also officially become a full member of BRICS at the beginning of 2025.

“We have also been invited to become members of the New Development Bank and we have also talked and our financial team has assessed. And with talks with our financial team, the Indonesian Government has decided to join the New Development Bank,” President Prabowo said in a joint press statement at Jakarta's Merdeka Palace on Tuesday (25/3/2025).

Prabowo explained that the NDB was indeed established to finance sustainable development projects and also to boost the economies of developing countries. The president detailed the NDB had an initial capital of 100 billion US dollars that had been contributed by the founding countries. As a multilateral development bank established by a BRICS member state 10 years ago, the NDB has its headquarters in Shanghai, China, and regional headquarters in Africa.

During a roughly 1.5 hour meeting with President Dilma, who is also a former Brazilian president, Prabowo said that the two discussions were very intensive and talked about short, medium and long term plans for the Indonesian government program.

According to the President, there are many similarities and experiences found between Indonesia and Brazil. At the end of his speech, President Prabowo thanked President Dilma for inviting and inviting Indonesia to join the NDB.

“I have decided to join the New Development Bank and follow the procedures and requests that have been given to us. Again, thank you very much for inviting us to join the NDB,” Prabowo said.

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