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Uruguay may become a member of BRICS New Development Bank

Uruguay's parliament is discussing the possibility of the country joining the BRICS New Development Bank (NDB), Izvestia reported, citing information received from the Russian Embassy in Montevideo.

Uruguay may become a member of BRICS New Development Bank
06.03.2025
Lesezeit: 1 min
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📝 Summary

Uruguay's parliament is discussing the possibility of the country joining the BRICS New Development Bank (NDB), Izvestia reported, citing information received from the Russian Embassy in Montevideo.

The diplomatic mission specified that the agreement on the participation of the South American country in the work of various BRICS structures, including the NDB, has already been submitted to lawmakers. Uruguay plans to use loans from the NDB to develop infrastructure projects in the fields of education, health and cyberspace. The new development bank was launched in 2015 and initially included Brazil, Russia, India, China and South Africa. In 2021, Bangladesh and the UAE joined them, two years later – Egypt. In the declaration adopted in October 2024 at the BRICS summit in Kazan, the leaders of the member countries of the association called for further improvement of the New Development Bank. In particular, Russian President Vladimir Putin called it a promising financial institution.

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