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Sri Lanka Seeks Membership in BRICS-Founded New Development Bank

Sri Lanka is taking steps to join the New Development Bank (NDB), founded by the BRICS bloc.

Foreign Secretary Aruni Wijewardene, currently attending the BRICS Plus Outreach Summit in Kazan, met with NDB President Dilma Rousseff to discuss Sri Lanka’s membership. The NDB is a multilateral institution established by Brazil, Russia, India, China, and South Africa to fund infrastructure and sustainable development projects in emerging markets and developing countries.

Sri Lanka has officially begun the application process to join BRICS and the NDB. President Ranil Wickremesinghe has written to Russian President Vladimir Putin, expressing Sri Lanka’s interest in BRICS membership, while Foreign Minister Vijitha Herath has sought support from BRICS member nations.

Dilma Rousseff, the first female president of Brazil, served from January 1, 2011, to August 31, 2016.

 

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