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Indonesia has announced its decision to join the New Development Bank (NDB), a multilateral financial institution founded by BRICS nations.
Significance of Membership:
- President Prabowo Subianto stated that joining NDB will aid Indonesia’s economic transformation.
- BRICS members include> Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the UAE.
- The announcement came during a visit by NDB President Dilma Rousseff, former President of Brazil.
Indonesia-NDB Collaboration:
- NDB has expressed interest in working with Indonesia in renewable energy, biodiesel, and technology.
- Prabowo has proposed multiple development projects for potential NDB partnership.
- This move aligns with Indonesia’s long-term growth strategy and enhances its global financial engagement.
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