Colombia and Uzbekistan Join New Development Bank

The New Development Bank expanded its membership to 11 countries after admitting Colombia and Uzbekistan. President Dilma Rousseff announced the expansion on July 5, 2025, during a press conference in Rio de Janeiro following the 10th meeting of the bank's Board of Directors.

The announcement occurred ahead of the 17th Brics Summit. Rousseff stated the bank's mission is to serve the Global South by financing science, technology, and innovation to address the Fourth Industrial Revolution. She emphasized that the bank respects national sovereignty and does not impose lending conditions, noting that "all members are equal."

Headquartered in Shanghai, the lender has approved more than 120 projects totaling $40 billion. These investments focus on digital infrastructure, transport, and clean energy.