Ethiopia is on the cusp of joining the BRICS New Development Bank (NDB), a move that will not only strengthen its position in international economic partnerships but also expand the bank's influence in emerging markets, particularly in Africa. This development comes as Ethiopia submits its application for NDB membership, receiving political support from all BRICS members.

The Ethiopian Ambassador to Brazil, Leulseged Tadese Abebe, confirmed the move during an interview published on the website of Brazil's BRICS Chairmanship. Ambassador Abebe emphasized that joining the NDB is a key priority for Ethiopia this year, highlighting the country's full commitment to integrating with the BRICS mechanisms. "One of the most important pillars in the BRICS family is the New Development Bank," he stated.

As a member of the NDB, Ethiopia plans to focus on key priority sectors such as agriculture, energy, and industry, aiming to drive sustainable development in these critical areas. This move is expected to further strengthen the bank's development initiatives on the continent, supporting critical infrastructure and sustainable projects in one of Africa's fastest-growing economies.

The NDB currently has three African member countries: South Africa, Egypt, and Algeria. South Africa, a founding member since 2015, participates in NDB operations, funds infrastructure projects, and promotes sustainable development. Egypt, which joined in 2023, leverages NDB funding for regional cooperation, energy, infrastructure, and trade projects. Algeria, which became a member in 2024, brings expertise in sustainable energy development and is expected to benefit from NDB financing for infrastructure and industrial capacity expansion.

Ethiopia's accession to the NDB will not only expand the bank's presence in the Horn of Africa but also highlight the continent's growing role in global economic governance. The NDB's expansion in Africa underscores the continent's commitment to infrastructure, energy, and sustainable development projects, further solidifying its position in the global economy.

This development is significant, given the growing influence of the BRICS nations in international economic partnerships. The NDB's expansion in Africa is a testament to the continent's increasing importance in global economic governance, and Ethiopia's membership will undoubtedly strengthen its position in this arena.

As Ethiopia prepares to join the NDB, the country's growing role in international economic partnerships is expected to have far-reaching implications for the region. With its focus on key priority sectors, Ethiopia is poised to drive sustainable development and strengthen the NDB's presence in the Horn of Africa.

In conclusion, Ethiopia's impending membership in the BRICS New Development Bank marks a significant milestone in the country's economic development and Africa's growing influence in global economic governance. As the continent continues to play an increasingly important role in international economic partnerships, Ethiopia's accession to the NDB is a testament to its commitment to sustainable development and its position as a key player in the region.