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Economic development

Malaysia to Conduct Comprehensive Review of New Development Bank Membership

Strategic Insights

— 1 min read

Malaysia is set to evaluate its potential membership in the New Development Bank (NDB), a multilateral development institution established by developing countries. The review will consider several key aspects, including the required commitments and the effectiveness of participation in the institution. Prime Minister Datuk Seri Anwar Ibrahim made the announcement following a meeting with senior officials from the NDB, led by its president Dilma Rousseff. Anwar's meeting with Rousseff took place on the sidelines of the Brics Leaders' Summit, where Malaysia is participating as a Brics Partner Country and as Chair of Asean 2025.

Key Takeaways:

  • Malaysia will conduct a comprehensive review of potential membership in the New Development Bank (NDB), considering several key aspects, including required commitments and effectiveness of participation.
  • The review will take into account the NDB's competitive financing alternative, aligning with Malaysia's aspiration to diversify infrastructure development sources and accelerate the transition to a green economy.
  • Prime Minister Anwar Ibrahim met with NDB president Dilma Rousseff on the sidelines of the Brics Leaders' Summit, where Malaysia is participating as a Brics Partner Country and as Chair of Asean 2025.
  • Malaysia's consideration of NDB membership reflects its openness to exploring potential cooperation within the framework of sustainable development, infrastructure financing, and South-South cooperation.
  • NDB is a multilateral development bank established by BRICS nations with 11 members, including Brazil, Russia, India, China, South Africa, Bangladesh, the United Arab Emirates, Egypt, Algeria, Colombia, and Uzbekistan.
  • Malaysia officially became a Brics Partner Country on January 1 this year.

Statistics:

  • 11 members currently participate in the New Development Bank (NDB) established by BRICS nations.
  • Malaysia became a Brics Partner Country on January 1 this year.
  • The NDB offers a competitive financing alternative for multilateral development, targeting sustainable development, infrastructure financing, and South-South cooperation.

Sources:

  • [NDB Official Website]
  • [Brics Summit Official Website]
  • [Malaysia's Asean Chairmanship 2025]

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