Indonesia to Join BRICS Development Bank: The Latest Updates

Indonesia is still undergoing the accession process to become a member of the New Development Bank (NDB), the development bank established by the BRICS group (Brazil, Russia, India, China, and South Africa). The government stated that the process is ongoing and the scale of Indonesia’s investment has not yet been finalised.

Tri Tharyat, Special Staff to the Minister of Foreign Affairs for the Strengthening of Multilateral Issue Policies, stated that Indonesia’s process to join the NDB began following a meeting between Indonesian President Prabowo Subianto and NDB President Dilma Rousseff on 25 March 2025. Since then, the government has continued the stages of coordination regarding the membership plan.

According to Tri, there are currently 10 member states of the NDB, seven of which are BRICS members. The other three members are Bangladesh, Algeria, and Uzbekistan, while Ethiopia, Iran, Saudi Arabia, and Indonesia are still in the accession process.

“It must be understood that while the NDB was founded by BRICS, its membership is open (non-BRICS countries can join),” Tri said during a press briefing at the Ministry of Foreign Affairs in Central Jakarta on Thursday (17/9/2026).

Regarding Indonesia’s planned investment, which was previously mentioned to be around US$1 billion (approximately Rp17.6 trillion), Tri emphasised that this figure is not yet final. He noted that relevant ministries and agencies are still conducting initial coordination stages.

Furthermore, the government views the NDB as having several advantages compared to multilateral financing institutions such as the World Bank and the IMF. One of these is the flexibility of financing schemes, which allows for the use of local currencies to reduce transaction costs.

Tri stated that updates on Indonesia’s accession process to the NDB will continue to be provided periodically. The government is also still coordinating between relevant ministries and agencies before determining the final amount of Indonesia’s investment.

Membership in the NDB is not limited to BRICS nations, meaning Indonesia can join even if its membership status within BRICS remains a different context. The government will continue to provide the latest information regarding the progress of the accession process.