Sri Lanka’s BRICS Membership Application Not Dismissed, Foreign Ministry Confirms

The Sri Lankan Foreign Ministry has confirmed that its application to join BRICS is still under consideration and has not been rejected, contrary to local media reports. Additionally, Sri Lanka’s intention to join the New Development Bank was positively acknowledged by the bank’s president.

The Sri Lankan Foreign Ministry has clarified that the nation’s application to join BRICS has not been rejected, countering local media reports suggesting otherwise. Furthermore, the ministry highlighted President of the New Development Bank’s (NDB) positive reception towards Sri Lanka’s aspiration to become a part of the NDB. Established by BRICS countries, the NDB is a multilateral development institution aimed at fostering economic growth among its members.

BRICS, originally formed by Brazil, Russia, India, and China, has seen significant expansion since its inception. In 2011, South Africa was welcomed as the fifth member, and the group continues to seek avenues for growth, including the admission of new members. The New Development Bank, associated with BRICS, provides financial support for infrastructure and sustainable development projects in emerging economies. Sri Lanka’s interest in BRICS membership and the NDB reflects its strategic intent to engage with leading global economies.

In summary, the Sri Lankan Foreign Ministry’s statement dispels rumors regarding the rejection of its BRICS membership application and confirms the nation’s appealing stance towards joining the New Development Bank. This development indicates Sri Lanka’s commitment to enhancing its international cooperation, particularly within the framework of BRICS, as the organization continues to evolve and expand its influence globally.

Original Source: economictimes.indiatimes.com