Colombia Becomes Full Member of BRICS New Development Bank, Confirmed by Dilma Rousseff, Gains Access to Loans

Colombia has officially joined the New Development Bank (NDB), also known as the BRICS Bank, becoming a full member of the financial institution established by the BRICS group of emerging economies—Brazil, Russia, India, China, and South Africa. The admission was confirmed by Colombia's Foreign Ministry and announced by the bank's president, former Brazilian President Dilma Rousseff, during a meeting with Russian President Vladimir Putin at the St. Petersburg International Economic Forum. Colombia submitted its application in May 2025 in China and was formally accepted in June 2025.

This move marks a strategic diversification of Colombia's foreign policy amid rising tensions with the United States, a traditional ally. While Colombia has joined the bank, it has not yet become a member of the broader BRICS economic bloc, maintaining a position of neutrality regarding the conflict in Ukraine. Membership in the NDB provides Colombia access to resources and loans, potentially reducing its financial vulnerability and expanding its credit options. Colombian officials describe the accession as a historic milestone, emphasizing the financial and geopolitical implications for the country.