Indonesia has formally decided to become a member of the BRICS-affiliated New Development Bank (NDB), just months after fully integrating into the China-led economic alliance, Jakarta Globe reported. President Prabowo Subianto met with NDB President Dilma Rousseff in Jakarta, where discussions led to Indonesia’s acceptance of an invitation to join the bank.

Speaking at a press conference at the Merdeka Palace, Prabowo confirmed the government’s decision to participate in the NDB, recognising its potential to support Indonesia’s economic transformation. However, he did not specify how the country intends to utilise funding from the institution.

Observers have noted that the majority of NDB loans have historically been directed towards its founding members—Brazil, Russia, India, China, and South Africa. Newer members, such as Egypt, have faced delays in securing financial support. To date, the bank has approved $39bn in financing.

Rousseff highlighted Indonesia’s significance within the Global South and commended its structured long-term economic vision. She also referenced Prabowo’s list of 77 key development initiatives, which include a national school feeding programme, expansion of palm oil production, and waste-to-energy projects.

With an initial authorised capital of $100bn, the NDB focuses on infrastructure and energy development. Membership is open to UN-recognised economies, with Bangladesh, the UAE, and Egypt already on board. Uruguay is currently in the process of joining. BRICS has also recently expanded to include Ethiopia, Iran, and Indonesia, reflecting its growing global influence.