On July 5, in Rio de Janeiro, Brazil, the BRICS New Development Bank (NDB) officially announced the admission of Colombia and Uzbekistan as full members. Established by the BRICS nations with its headquarters in Shanghai, the NDB aims to facilitate infrastructure development and sustainable projects in BRICS countries, as well as other emerging economies and developing nations, through financial assistance. This institution complements existing multilateral and regional financial frameworks, fostering global growth and development.