# Colombia and Uzbekistan have officially joined the New Development Bank, also known as the BRICS Bank, led by Brazil, Russia, India, China, and South Africa. Colombia’s Foreign minister Laura Sarabia confirmed the country’s membership, following president Gustavo Petro’s visit to China and entry into the Belt and Road Initiative. Uzbekistan’s approval strengthens its global financial ties. Both nations gain access to funding for development projects, offering alternatives to Western institutions like the IMF and World Bank. Meanwhile applications from Ethiopia and Indonesia remain under review.
Colombia and Uzbekistan officially join BRICS Development Bank