Zimbabwe has become a member of the Brics New Development Bank, a move expected to expand the country’s access to development financing and investment, Finance, Economic Development and Investment Promotion Minister Mthuli Ncube announced at the Zimbabwe Industrialisation Conference and Expo in Harare.
In a post on X, the Ministry of Information, Publicity and Broadcasting Services said the membership would improve access to development finance, deepen economic cooperation with Brics countries, and give Zimbabwe greater representation in global economic decision-making.
The New Development Bank was established by Brazil, Russia, India, China and South Africa in 2014 and began operations in 2015.
It finances infrastructure and sustainable development projects in Brics countries as well as other emerging and developing economies.
Zimbabwe applied to join the bank in 2023, with accession negotiations advancing earlier in 2026.
The country has also submitted a formal application to join the Brics bloc.
- Zimbabwe has become a member of the Brics New Development Bank, as announced by Finance Minister Mthuli Ncube.
- Membership is expected to enhance Zimbabwe's access to development financing, investment, and economic cooperation with Brics countries.
- The New Development Bank, established by Brazil, Russia, India, China, and South Africa in 2014, supports infrastructure and sustainable development projects.
- Zimbabwe applied to join the bank in 2023, with accession talks progressing in early 2026.
- Zimbabwe has also formally applied to join the broader Brics bloc.
