Xinhua
Zimbabwe has officially joined the BRICS New Development Bank (NDB), Finance, Economic Development and Investment Promotion Minister Mthuli Ncube announced on Thursday.
Speaking at the Zimbabwe Industrialization Conference and Expo in Harare, Ncube confirmed that Zimbabwe was admitted as a member of the Shanghai-based institution on Wednesday, unlocking crucial credit and funding opportunities for the country.
On the social media platform X, Zimbabwe’s Ministry of Information, Publicity and Broadcasting Services said that the milestone secures access to development finance, strengthens economic ties with BRICS nations, and gives Zimbabwe a voice in global decision-making.
Established in 2014 by Brazil, Russia, India, China, and South Africa, the NDB officially began operations in 2015, with a mission to mobilize resources for infrastructure and sustainable development projects in BRICS member nations and other emerging-market economies and developing countries.
Zimbabwe applied to join the bank in 2023, with formal accession negotiations progressing earlier this year. The country has also formally applied to join the BRICS group.
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