Indonesia Assigns $1 Billion to BRICS-Led New Development Bank

Indonesia will assign $1 billion to the BRICS-led New Development Bank, further boosting ties with the group of developing nations.

The country expects its contribution to help fund sustainable development projects, Coordinating Economic Ministry spokesman Haryo Limanseto said in Jakarta on Tuesday.

Southeast Asia’s largest economy formally joined the bloc earlier this year, seeking to tap alternative markets at a time when US President Donald Trump’s tariffs threatened access to the US. Since taking office in Oct. 2024, Indonesian President Prabowo Subianto has also sought a higher profile for his country, which maintains a non-aligned foreign policy stance. ...