Indonesia formally joined the BRICS New Development Bank (NDB) on Dec. 3, contributing an initial investment in the bank of US$1 billion. Indonesia became a full member of the BRICS itself in January of this year.
With this, the BRICS bank now has 12 members: founding members Brazil, Russia, India, China, and South Africa, plus Bangladesh, United Arab Emirates, Egypt, Algeria, Colombia and Uzbekistan (the applications of the last two were approved by the NDB board in July.
