NDB signs its first syndicated loan facility

The five members reached consensus on criteria and procedures for expansion and recorded invitations to six states to become members from January 2024. Invitation and entry are different milestones.

Leaders tasked foreign ministers with designing a partner category and prospective list for future outreach beyond full membership.

South Africa’s president publicly named Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE as invitees for membership from January 2024. Their eventual status required separate verification.

Invited leaders from Africa and the wider Global South joined a dialogue on development and more representative global governance. Attendance did not itself confer BRICS membership.

Two agreements totaling US$1.7 billion supported Brazilian environmental and sustainable-development priorities through its national development bank.

Egypt joined the leaders’ grouping following the Johannesburg invitation. This is separate from its earlier entry into the New Development Bank.

Ethiopia joined as the group expanded its representation in Africa beyond South Africa and Egypt.

Iran joined the group following the Johannesburg invitation, broadening participation from West Asia.

The UAE joined BRICS following its 2023 invitation. It had separately become an NDB member in 2021.

The first BRICS Women’s Entrepreneurship Forum brought together business networks and drew attention to women’s access to finance and innovation.