LatinNews Daily - 20 June 2025

*Colombia’s Foreign Minister Laura Sarabia has announced that Colombia has officially joined the New Development Bank (NDB) – the multilateral bank run by the Brics group of developing economies that comprised Brazil, Russia, India, China, and South Africa before admitting new members in recent years. This comes after Colombia’s President Gustavo Petro announced in May that the country had formally requested to join the bank, which is led by Brazil’s former president Dilma Rousseff (2011-2016). “We continue opening the way to new opportunities for our country,” wrote Sarabia in a social media post celebrating Colombia’s adhesion to the bank, which she said “goes beyond the financial and broadens our horizon”. The office of President Petro also issued a post, stating that joining the bank “opens new opportunities of financing for strategic projects and is a key step towards diversifying alliances and strengthening the economy of the country”.

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