Ethiopia has submitted an official application to join the BRICS-led New Development Bank (NDB), according to Leulseged Tadese Abebe, Ethiopia’s Ambassador to Brazil.
The move aligns with the country’s broader strategy to enhance international economic cooperation and access development financing for key sectors including agriculture, energy and industry. Ethiopia aims to complete the membership process by the end of the year, said Abebe, and has already secured political support from existing BRICS members.
Currently, the NDB counts three African nations among its members: South Africa, Egypt and Algeria. Ethiopia would become the fourth African country to join upon approval.
“One of the most important pillars in the BRICS family is the New Development Bank,” Abebe noted, emphasizing the importance of full integration into BRICS frameworks to accelerate Ethiopia’s economic development.
Ethiopia officially became a member of BRICS on January 1, 2024, following an invitation extended in August 2023.