💰 Indonesia’s billion-dollar ticket into the BRICS bank: Jakarta has pledged a $1 billion capital contribution to the BRICS-led New Development Bank (NDB). The payments can be spread over up to seven years.
🌍 BRICS over Washington: Since January 2025, Indonesia has officially been the 10th member of BRICS. The move serves diversification and a strategic realignment toward the Global South. Background: rising trade barriers toward the West.
🧱 $100bn financial framework: Of the NDB’s authorized capital, BRICS founders have so far subscribed $50bn — consisting of $10bn paid-in capital and $40bn callable guarantee capital. This structure forms the credit leverage for global infrastructure, energy, and sustainable development projects.
🏋🏻 Power remains with the founders: Around 94% of shares and voting rights are still held by the five BRICS founding states. New members such as Indonesia, Egypt, and the UAE are buying in gradually through the remaining free capital.
đź§Â Foreign-policy shift with signal effect: Since taking office in 2024, President Prabowo Subianto has pursued a visibly more active foreign policy. The NDB deal is part of a broader strategy to elevate Indonesia’s geopolitical weight.
Big Picture
Indonesia’s entry into the BRICS bank marks a strategic pivot toward a multipolar world order. While the West experiments with protectionism, Jakarta is securing capital, markets, and political options in the Global South. The NDB is increasingly becoming the financial backbone of an alternative development model beyond the World Bank and IMF.
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