The
minister
said
that
Zimbabwe
had
received
official
communication
from
New
Development
Bank
President
Dilma
Rousseff,
confirming
the
start
of
the
accession
process
and
outlining
the
next
steps
toward
full
membership.
“The
government
of
the
Republic
of
Zimbabwe
welcomes
the
decision
by
the
Board
of
Directors
of
the
New
Development
Bank
authorizing
the
commencement
of
formal
negotiations
regarding
Zimbabwe’s
membership
of
the
Bank,”
Ncube
said.
He
noted
that
the
landmark
development
represents
a
major
milestone
in
Zimbabwe’s
engagement
and
re-engagement
agenda,
reflecting
growing
international
confidence
in
the
country’s
economic
reform
program,
macroeconomic
stability,
and
private
sector-driven
investment
growth
strategy.
Membership
in
the
New
Development
Bank
is
expected
to
strengthen
Zimbabwe’s
capacity
to
mobilize
long-term
development
financing
for
key
national
priorities
in
line
with
the
country’s
vision
to
become
an
upper-middle-income
economy
by
2030,
the
minister
said.
“The
commencement
of
formal
negotiations
also
advances
Zimbabwe’s
broader
efforts
to
deepen
South
to
South
win-win
cooperation
with
emerging
economies
and
integrate
into
the
fast-evolving
global
technological
and
financial
revolution
associated
with
BRICS,”
Ncube
added.
Zimbabwean
President
Emmerson
Mnangagwa
announced
in
2023
that
the
country
had
applied
to
join
the
New
Development
Bank,
a
multilateral
financial
institution
established
in
2015
by
the
BRICS
members.
The
bank’s
main
purpose
is
to
fund
infrastructure
and
sustainable
development
projects
in
BRICS
countries,
as
well
as
other
emerging
economies
and
developing
nations.
Post
published
in:
Business