Indonesia Joins BRICS-led New Development Bank with $1.3 Billion

Indonesia has committed to allocating US$1 billion (S$1.3 billion) to the BRICS-led New Development Bank, aiming to enhance collaboration with the group of developing countries. The nation anticipates that its financial contribution will support sustainable development initiatives, as stated by Coordinating Economic Affairs Ministry spokesman Haryo Limanseto in Jakarta on Dec 2. As Southeast Asia’s largest economy, Indonesia officially became a member of the BRICS alliance earlier in 2025, with the primary objective of exploring alternative markets amidst uncertainties resulting from US President Donald Trump’s trade tariffs. Since assuming office in October 2024, Indonesian President Prabowo Subianto has actively pursued a more prominent global role for Indonesia, emphasizing the country’s non-aligned foreign policy stance.