Colombia Joins BRICS Bank, Hedging Against US Tariffs

Colombia’s decision to enter the New Development Bank marks the country’s first institutional step into the BRICS financial architecture and its most pointed signal yet that Bogotá is willing to look beyond Washington for development finance.

The bank’s board approved the application on Thursday, barely a month after President Gustavo Petro made the pitch during a visit to Shanghai.

“This news transcends finance and broadens our horizon,” Foreign Minister Laura Sarabia posted on X, adding that membership “opens new paths for the country.”

The move enables access to the NDB’s US$100 billion balance sheet—already stretched across more than 90 projects worth roughly US$32 billion in areas such as renewable energy and urban transit.

Colombia’s entry fee—about US$512 million in paid-in and callable capital—mirrors the model used with the Inter-American Development Bank, but the strategic calculus is different. NDB loans are typically denominated in local or alternative currencies, a design meant to pare back reliance on the US dollar and the policy strings that often accompany World Bank or IMF lending.

The timing is politically charged. Since January, the Trump administration has slapped a 10% tariff on most Colombian exports and threatened steeper duties in a wider trade row, accelerating Petro’s push to “de-risk” the economy from a single partner.

Joining the NDB—and, in parallel, China’s Belt and Road Initiative—gives Bogotá fresh leverage just as those suspended reciprocal tariffs are set to expire in July.

For the BRICS bloc, Colombia expands an already muscular footprint as BRICS now represents roughly 32% of global GDP and about 40% of the world’s population, up from barely 15% when the acronym was coined two decades ago.

Colombia’s Congress must still ratify the share purchase, and conservative opposition lawmakers say closer financial ties to Moscow could complicate Western sanctions compliance. If ratified, Bogotá would hold roughly a 1% voting stake—comparable to the UAE’s—opening a legal path to full BRICS membership at the 2026 Kazan summit.


Information for this story was found via the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Uranium Is Back On America’s Radar | Corey Dias –  Anfield Energy

The Russell Will Lead the Next Market Crash!? | John Feneck

The Global Conflict Has Already Started | Bryan Cunningham

Recommended

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Altamira Gold Encounters Porphyritic Intrusive Rocks In Initial Scout Drilling At Regional Targets

Related News

Kazakhstan Clarifies Position on BRICS Partnership Status

Kazakhstan’s Ambassador to Russia, Dauren Abayev, has addressed speculation about his country’s relationship with BRICS,...

Monday, October 28, 2024, 07:55:40 AM

Russia Has Billions Stuck in Indian Banks

Billions in profits from Russian oil sales have become trapped within Indian banks, delivering a...

Saturday, September 16, 2023, 11:27:00 AM

Russia Warns That A Putin Arrest In BRICS Summit Would Be ‘A Declaration of War’

South African President Cyril Ramaphosa has warned that any attempt to arrest Russian President Vladimir...

Wednesday, July 19, 2023, 11:38:00 AM

BRICS Push For Own Metals Exchange Threatens Dollar Supremacy

The BRICS alliance has announced plans to establish a new precious metals exchange designed to...

Friday, April 11, 2025, 11:25:00 AM

Colombia’s Gustavo Pietro Is Done With The War On Drugs

On Tuesday last week, Colombia’s recently-elected leftist president Gustavo Petro addressed the United Nations General...

Thursday, September 29, 2022, 03:39:00 PM