Jakarta—The New Development Bank, formerly known as BRICS Development Bank, has expressed interest in participating in the development of renewable projects in Indonesia, Minister of Investment and Downstream Industry Rosan Perkasa Roeslani said Tuesday, March 25.
“NDB wants to participate in terms of financing, in particular financing renewable energy projects, infrastructure, and others,” said Rosan after accompanying the President of the New Development Bank (NDB), Dilma Vana Rousseff, visiting President Prabowo Subianto at the Merdeka Palace in Jakarta.
NDB is a multilateral development bank established by the BRICS states. Founded in July 2014 and headquartered in Shanghai, China, the NDB’s primary objective is to fund infrastructure construction and sustainable development projects in developing countries.
Rosan said NDB has a good rating and may help cut the cost of financing Indonesia’s infrastructure projects if it materialises its plan to invest in Indonesia. However, he did not specify what projects NDB is interested in.
Rosan, however, noted that one project discussed is the conversion of waste into energy since NDB has experience financing similar projects.
“We are also invited to see firsthand (NDB’s experience) what they have done because coincidentally, this is also the same as our program- how we can convert waste into energy, which can have a positive impact,” he said.
President Prabowo Subianto said early this year that Indonesia agreed to join BRIC following an invitation from NDB President Dilma Vana Rousseff.
The BRICS countries are Brazil, Russia, India, China, and South Africa. The term BRICS is an acronym for the names of these countries. The BRICS summit was first held in 2009. In 2010, South Africa joined the BRICS. Then, in 2024, Egypt, Ethiopia, Iran, and the United Arab Emirates joined the BRICS and were followed by Indonesia in early 2025. (Roffie Kurniawan)
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