Indonesia to join multilateral Brics bank, president says

Jakarta — Indonesia will join New Development Bank, a multilateral bank developed by Brics member nations, President Prabowo Subianto said on Tuesday.

Joining NDB as a member would help Indonesia accelerate its economic transformation, Prabowo said. The Brics group also includes Brazil, Russia, SA, China, India, Egypt, Ethiopia, Iran and the United Arab Emirates.

Prabowo made the announcement during a visit by NDB president and former Brazilian president Dilma Rousseff.

Rousseff said the bank is interested in collaborating in sectors such as renewable energy and biodiesel, as well as technological development.

Prabowo has presented dozens of projects for potential partnership with NDB, Rousseff told reporters.

Reuters