BRICS: Honduras to Join Its New Development Bank?

Joshua Ramos
Source: ThoughtCo

Following a recent visit to China by its president, Xiomara Castro, Honduras is seeking entry into the BRICS New Development Bank. Moreover, reports have shown that the country has made a formal request. Specifically, the request arrived following a meeting with the bank’s chairwoman, Dilma Rousseff.

The request will reportedly see a delegate from the Honduran government travel to Shanghai to initiate the country’s process of joining the bank. Subsequently, its membership request follows previous reports of Suadi Arabia seeking to also take part in the bank’s operations.

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Honduras Requests to Join BRICS Bank

The growing prominence of BRICS has been an undeniable headline of 2023 thus far. Moreover, as the annual summit fast approaches, the potential expansion will be a notable talking point. Indeed, as the countries begin to flock to the collective, just who could take part in that expansion is beginning to take shape

However, although the bloc may not expand, its development bank is set to. Specifically, Honduras is reportedly set to join the BRICS New Development Bank. The formal request was reportedly made following Honduran President Xiomara Castro’s visit to China last week.

Source: Sputnik News

Reuters reported the request that came from a meeting between Castro and Roussef during their meeting. Moreover, Honduras would be set to join the growing development bank that has most recently seen interest from Saudi Arabia.

According to the Merco Press, Castro stated that the New Development Bank provides “the possibilities here to find mechanisms that allow us to develop our economy,” regarding its membership request. Moreover, she stated that inclusion allows them to “find permanent allies that allow us to give a different quality of life to our people.”

There has not yet been any reported interest from Honduras in joining the BRICS bloc. However, the country could have already shown interest quietly. Specifically, more than 20 countries have already submitted membership requests to join the bloc. As some of those nations are based in Latin America, Honduras would be likely.