The Ethiopian government has approved a bill on the country’s accession to the BRICS New Development Bank (NDB) on June 26. The bill will now be sent to parliament for consideration, the state-run Ethiopian News Agency (ENA) reported, according to the Africa Initiative.
After the 57th meeting of the Council of Ministers unanimously approved membership in the bank, the government issued a statement declaring that membership in the bank will give Ethiopia access to additional financing for infrastructure projects, strengthen macroeconomic stability, and expand ties with the financial systems of Global South countries.
