Sri Lanka’s Foreign Ministry clarified that the application to join BRICS was not rejected, contrary to local media reports. The Ministry also announced support from the NDB President for Sri Lanka’s intention to join the New Development Bank, emphasizing the country’s proactive stance in international collaboration.
Recent statements from Sri Lanka’s Foreign Ministry clarify that reports claiming the rejection of the country’s application to join BRICS were inaccurate. The Ministry confirmed that Sri Lanka’s bid for membership remains active. Furthermore, they announced the strong support from the President of the New Development Bank (NDB) for Sri Lanka’s intention to join this multilateral development institution, which was established by the BRICS nations. This development underscores Sri Lanka’s continued efforts to enhance international cooperation and investment opportunities.
BRICS, initially formed by Brazil, Russia, India, and China, is a significant economic bloc that now includes South Africa and has expanded to incorporate four additional members in recent developments. The New Development Bank, created to support infrastructure and sustainable development projects in BRICS and other emerging economies, plays a crucial role in facilitating investments. Sri Lanka’s application reflects its strategic interest in aligning with BRICS’s economic initiatives and gaining access to the resources offered by the NDB.
In summary, the Foreign Ministry of Sri Lanka has reaffirmed the status of its BRICS membership application, dispelling claims of rejection. Additionally, the positive reception of Sri Lanka’s request to join the New Development Bank indicates a strengthening of the country’s international partnerships and a commitment to development through cooperation in multilateral finance.
Original Source: economictimes.indiatimes.com
