Ethiopia Set to Join BRICS New Development Bank

Ethiopia is set to become the fourth African member of BRICS’ New Development Bank (NDB), marking a significant step in the country’s international economic engagement. The announcement, made by Ethiopia’s Ambassador to Brazil, Leulseged Tadese Abebe, comes after the country submitted its application for membership. Once approved, Addis Ababa plans to channel NDB resources into critical sectors like agriculture, energy, and industry, aiming for sustainable development. This membership highlights Ethiopia’s growing influence in the global economic arena, as well as the NDB’s expansion across emerging markets, particularly in Africa. Ethiopia will join South Africa, Egypt, and Algeria, further solidifying the NDB’s role in supporting infrastructure and sustainable development across the continent.

Business Insider Africa