Indonesia invested $1 billion to support the New Development Bank of BRICS countries, strengthening global cooperation in the South.

Indonesia will invest $1 billion in the new development bank led by the BRICS countries, further strengthening its ties with this group of developing countries. Haryo Limanseto, a spokesperson for the Indonesian Ministry of Economic Affairs, said on Tuesday in Jakarta that they hope their contribution will help fund sustainable development projects. As the largest economy in Southeast Asia, Indonesia became a formal member of the BRICS countries earlier this year. In March, President Prabowo announced that the country would join the new development bank. According to the new development bank's website, the five founding members of the BRICS countries account for 94% of the bank's subscribed capital, totaling $500 billion in paid-in capital and callable capital.