The New Development Bank (NDB) – established by Brazil, Russia, India, China and South Africa (BRICS) in 2015 – has welcomed Bangladesh, UAE, and Uruguay as new members as parts of its membership expansion move.
“Membership of Bangladesh to NDB has paved the way for a new partnership at a momentous time of the 50th anniversary of our independence,” said Finance Minister AHM Mustafa Kamal on Thursday.
He said the membership in the NDB is an important step forward in meeting the development vision of Prime Minister Sheikh Hasina.
“We look forward to working closely with NDB to build together a prosperous and equitable world for our next generation as dreamt by our Father of the Nation Bangabandhu Sheikh Mujibur Rahman,” said the finance minister.
NDB’s Board of Governors authorized the Bank to conduct formal negotiations with prospective members in late 2020.
After a round of successful negotiations, NDB approved the admission of the United Arab Emirates (UAE), Uruguay and Bangladesh as its first new member countries.
“We are delighted to welcome the UAE, Uruguay and Bangladesh to the NDB family. New members will have in NDB a platform to foster their cooperation in infrastructure and sustainable development,” said Marcos Troyjo, President of NDB. “We will continue to expand the Bank’s membership in a gradual and balanced manner.”