Indonesia Joins BRICS’ New Development Bank to Drive Growth
Indonesia has officially joined the New Development Bank (NDB), the multilateral lending institution established by the BRICS group—Brazil, Russia, India, China, and South Africa. The decision reflects Indonesia’s strategic ambition to accelerate its economic transformation through international financial cooperation and development partnerships.
President Prabowo Subianto confirmed the move during a recent meeting with the bank’s leadership, underscoring the country’s interest in tapping into new sources of capital and expertise for large-scale national initiatives.
Priority Areas for Economic Collaboration
Indonesia aims to leverage NDB membership to secure support for key development sectors. These include renewable energy, biodiesel production, and emerging technologies. By focusing on these areas, the country hopes to reduce dependence on fossil fuels, diversify its energy portfolio, and position itself as a regional leader in sustainable innovation.
The collaboration is also intended to boost investment in infrastructure, green energy, and digital transformation projects—critical pillars of Indonesia’s long-term economic roadmap.
Strengthening South-South Cooperation
Joining the NDB marks a significant step in Indonesia’s pivot toward deeper cooperation with emerging economies. It signals the country’s intention to contribute to, and benefit from, alternative global financial systems beyond traditional Western-led institutions.
The move enhances Indonesia’s global economic stature and expands its influence in shaping development agendas in the Global South. With access to development financing and technical expertise, Indonesia is expected to fast-track several national initiatives aimed at inclusive growth and long-term sustainability.
The partnership with the BRICS-backed institution sets the stage for closer economic integration, regional collaboration, and a stronger voice in multilateral economic forums.
