Why in News?

  • Zimbabwe has officially started negotiations to become a member of the BRICS New Development Bank (NDB).
  • Zimbabwe’s Finance Minister Mthuli Ncube announced that the country received official communication from Dilma Rousseff confirming the beginning of the accession process.

KEY HIGHLIGHTS

Formal Membership Process Started
  • The Board of Directors of the New Development Bank approved the start of Zimbabwe’s accession process.
  • The communication also outlined the next steps for obtaining full membership.

WHY DOES ZIMBABWE WANT TO JOIN NDB?

Main Objective Zimbabwe wants:
  • Long-term development financing
  • More funds for:
    • Infrastructure
    • Economic development
    • National projects
Expected Benefits Membership in the New Development Bank (NDB) may help Zimbabwe:
  • Mobilise development finance
  • Improve economic growth
  • Support infrastructure projects
  • Reduce dependence on Western financial institutions
Zimbabwe’s National Goal
  • Zimbabwe aims to become:
An Upper-Middle-Income Economy by 2030
  • The government believes that NDB membership can support this vision.

ABOUT BRICS NDB

  • Established By The bank was established by:
BRICS countries
  • Brazil
  • Russia
  • India
  • China
  • South Africa
Established In
  • 2014
  • Headquarters:
    • Shanghai, China
Purpose of NDB Main Objective To provide:
  • Loans
  • Financial assistance
  • Infrastructure funding
  • Sustainable development financing for developing and emerging economies.

MEMBERS

Founding Members (2015)
  • Brazil
  • Russia
  • India
  • China
  • South Africa

SHAREHOLDING:

https://www.ndb.int/about-ndb/shareholding/ New Members
  • Bangladesh (Joined 2021)
  • United Arab Emirates (Joined 2021)
  • Egypt (Joined 2023)
  • Algeria (Joined 2025)
  • Colombia (Joined 2025)
  • Uzbekistan (Joined 2025

ABOUT ZIMBABWE

Location
  • Zimbabwe is a landlocked country in Southern Africa.

BORDERING COUNTRIES

Direction Country
Northeast & East Mozambique
South South Africa
Southwest & West Botswana
Northwest Zambia
Capital City
  • Capital:
    • Harare
Geographical Features of Zimbabwe Topography
  • Dominated by a high plateau called:
    • Highveld
  • Consists mainly of grasslands.
Climate
  • Located within the tropics
  • Experiences subtropical climate due to high elevation.
Highest Peak Mount Nyangani
  • Height:
    • 2,592 metres
  • Highest mountain in Zimbabwe.
Important Lakes Lake Kariba
  • Located on:
    • Zambia–Zimbabwe border
  • One of the world’s largest man-made lakes.
Major Rivers of Zimbabwe Important Rivers
  • Zambezi River
  • Limpopo River
  • Sabi River
  • Runde River
Desert Region
  • Parts of Zimbabwe include:
    • Kalahari Desert
Natural Resources Zimbabwe is rich in minerals such as:
  • Coal
  • Chromium ore
  • Vanadium
  • Lithium
  • Tin
  • Platinum