Zimbabwe has officially become a member of the New Development Bank (NDB), the financial arm of the BRICS bloc, Finance and Economic Development Minister Mthuli Ncube announced on Thursday.
The accession marks a concrete step in the country's broader strategic realignment toward non-Western multilateral institutions, providing Harare with a new avenue for infrastructure financing outside traditional Western-led frameworks.
Ncube described the move as a positive step in securing credit lines for the country.
By joining the NDB, Zimbabwe gains access to a pool of capital established by Brazil, Russia, India, China, and South Africa, which aims to mobilize resources for infrastructure and sustainable development projects in emerging economies.
This membership is likely to facilitate funding for critical domestic projects that have previously faced constraints due to limited access to international capital markets.
The development underscores Zimbabwe's ongoing efforts to diversify its diplomatic and economic partnerships.