Colombia and Uzbekistan Join BRICS New Development Bank, Confirmed by Dilma Rousseff, Gaining Access to Financial Resources

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Updated Jul 6, 2025, 08:27 AM

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 Dilma Rousseff, president of the NDB, during a meeting with Russian President Vladimir Putin, and subsequently ratified by the bank's governors. Colombia's membership follows a formal request made in May 2025 and marks a strategic move to diversify its foreign policy amid growing tensions with the United States. While Colombia remains cautious about joining the broader BRICS economic bloc due to its neutral stance on the Ukraine conflict, its inclusion in the bank grants it access to financial resources and loans.

The move is seen as a step to reduce vulnerability to financial pressures and expand credit options. Alongside Colombia, Uzbekistan was also admitted as a new member of the NDB. Other full members of the bank include the original BRICS countries as well as the United Arab Emirates, Bangladesh, Egypt, Algeria, and Uzbekistan. Colombia's entry into the NDB was announced from the St. Petersburg International Economic Forum and later confirmed during a press conference in Rio de Janeiro. The bank focuses on funding infrastructure and sustainable development projects across member countries and aims to better serve the Global South.

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Sources

portafolio.co(3)espanol.cgtn.com(2)vk.cc(2)elpais.com(2)

CGTN Español

@cgtnenespanol

The president of the New Development Bank of #BRICS, Dilma Rousseff, announced the addition of #Colombia and #Uzbekistán as new members of the institution. #xw #SurGlobal

CGTN Español

@cgtnenespanol

Dilma Rousseff announces the accession of Colombia and Uzbekistan to the BRICS NDB. #BRICS2025 #Brasil #xw

CGTN

@CGTNOfficial

Colombia & Uzbekistan join BRICS nations' New Development Bank #BRICS2025