Sri Lanka’s Foreign Ministry stated that the country’s BRICS membership application has not been rejected, contrary to local media reports. Additionally, the president of the New Development Bank welcomed Sri Lanka’s interest in joining the institution, indicating a positive outlook for future collaboration.

The Foreign Ministry of Sri Lanka has clarified that the nation’s application to join the BRICS grouping has not been rejected, countering recent media reports suggesting otherwise. In addition, it was noted that Sri Lanka’s interest in joining the New Development Bank (NDB) received a positive response from the bank’s president. The NDB, which serves as a multilateral development bank established by BRICS members, underscores the growing importance of international cooperation in economic development among emerging economies.

BRICS, originally formed by Brazil, Russia, India, and China, has expanded to include South Africa since 2011, reflecting a broader coalition of emerging economies. The New Development Bank, also initiated by the BRICS nations, is dedicated to financing infrastructure and sustainable development projects in member countries and beyond. Sri Lanka’s application for membership highlights its intent to engage more deeply with these significant global economic players, especially in light of ongoing financial challenges faced by developing nations.

In summary, the Sri Lankan Foreign Ministry has reaffirmed its application for BRICS membership, disputing claims of rejection. The enthusiasm shown by the president of the NDB towards Sri Lanka’s desire to join illustrates the country’s commitment to fostering international economic partnerships and emphasizes the ongoing relevance of BRICS and its developmental initiatives.

Original Source: economictimes.indiatimes.com