Colombia Joins BRICS-Backed Bank in Shift Toward New Financial Order
COLOMBIA, JUN 19 – Colombia’s entry into the BRICS New Development Bank opens access to $512.5 million in capital for infrastructure and clean energy, aiming to reduce reliance on Western financing.
- On June 19, 2025, Colombia officially joined the BRICS-backed New Development Bank, with Foreign Minister Laura Sarabia announcing its admission.
- Colombia sought membership to diversify financing sources and reduce dependence on U.S. and Western banks amid trade disputes and economic shifts.
- The government aims to fund infrastructure projects like a 120-kilometer rail and canal link, create jobs, and expand clean energy using bank financing.
- Colombia plans to acquire 5,125 shares in the New Development Bank, comprising 4,100 callable shares as guarantees and 1,025 shares paid in cash, with a total subscription valued at $512.5 million, Finance Minister Ricardo Bonilla stated.
- The move marks a key step toward economic diversification but raises concerns over fiscal risk and geopolitical balance given Colombia's ties to the U.S.
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Colombia Joins the BRICS New Development Bank in the Midst of Growing Tension with the United States
Colombia, a traditional ally of the United States in Latin America, has taken another step in its efforts to diversify its foreign policy in the midst of growing tension with Washington. The BRICS New Development Bank, an alternative financing to the International Monetary Fund or the World Bank, approved on Thursday the accession of the South American country. Dilma Rousseff, head of the development bank and former president of Brazil, reported…
The confirmation was given during a meeting between Rousseff and Russian President Vladimir Putin, in Strelna, on the outskirts of St Petersburg, at which they also reported on Uzbekistan’s accession: “Two countries have already been elected as new members, are Uzbekistan and Colombia.” According to Rousseff, “the incorporation of two other countries is being considered: Ethiopia and Indonesia.” See this post on Instagram A shared publication of…
Gustavo Petro works to reduce the country's dependence The Colombia was accepted as a member of the New Development Bank (NBD, known as the Brics Bank), in an approach to emerging economies in the middle of tensions with the United States, informed the Minister of Foreign Relations of the country, Laura Sarabia, this Friday.
Colombia Joins BRICS Bank to Find New Ways to Fund Growth
Colombia has joined the New Development Bank, a group created by Brazil, Russia, India, China, and South Africa (the BRICS countries). The Colombian government and the bank’s president, Dilma Rousseff, confirmed this step after President Gustavo Petro requested membership during a visit to China in May 2025. The New Development Bank gives loans and funding […]
Colombia Joins BRICS’ New Development Bank - teleSUR English
This membership opens new financing opportunities for strategic projects, the Colombian presidency stated. On Thursday, Colombian Foreign Minister Laura Sarabia announced that her country has been admitted into the New Development Bank (NDB), the financial institution established by the BRICS group of emerging economies led by Brazil, Russia, India, China and South Africa. RELATED: Colombian Senate Approves Historic Labor Reform Backed by Petro:…
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