Honduras applied to join the BRICS bank

Honduran President Siomara Castro filed a formal application to join the BRICS New Development Bank (NDB) during her visit to China, a spokesman for the head of state said on Twitter.

“President Siomara Castro met with the President of the BRICS New Development Bank Dilma Rousseff, [во время которой] she has received a formal request for Honduras to join this organization.” leads TASS message.

At the end of May Financial Times wrote that Saudi Arabia has begun negotiations to join the NDB as a new, ninth member. Now the BRICS bank consists of eight states. The authorized capital bank is $100 billion. Its purpose is to finance infrastructure projects in the BRICS states and developing countries. In 2021, the bank welcomed four new members: Bangladesh, Egypt, the United Arab Emirates (UAE) and Uruguay.

Earlier, Russian Prime Minister Mikhail Mishustin at a meeting with NBR President Dilma Rousseff declaredthat the purpose of the BRICS bank is to protect the trade and economic relations of the union from the impact of sanctions from unfriendly countries. From the activities of the bank, Russia expects the strengthening of investment cooperation in the BRICS format, the promotion of promising projects in various fields, as well as the emergence of new points of growth for the national economies of the five countries.