India sees NDB financing opportunity for Indonesia
Photo caption: BRICS logo
Jakarta (ANTARA) - India sees an opportunity for Indonesia to tap financing from the New Development Bank, particularly for renewable energy and resilient infrastructure, Indian Ambassador to Idnonesia Sandeep Chakravorty said.
“I look at opportunities for Indonesia to tap into NDB financing, particularly for renewable energy and resilient infrastructure development,” Chakravorty said in a written interview with ANTARA on Friday, ahead of India’s 2026 BRICS presidency.
The NDB could play a critical role in advancing the sustainability agenda and helping developing countries achieve the United Nations Sustainable Development Goals, Chakravorty said.
The NDB has set a target of providing US$30 billion in financing during its 2022-2026 cycle, with 40 percent earmarked for climate action, he said. The bank also targets 30 percent in local currencies.
Chakravorty said BRICS leaders were likely to consider increasing the NDB’s capitalization and lending capacity while making financing for sustainable projects more accessible.
“I am sure the BRICS leadership will be looking at increasing capitalization and deployment of NDB’s capital and greater ease of financing of sustainability projects,” he said.
India’s 2026 BRICS presidency is being conducted under the theme “Building for Resilience, Innovation, Cooperation and Sustainability,” with resilience, innovation, cooperation and sustainability as its four priority pillars.
The presidency will culminate in the 18th BRICS summit in New Delhi on September 12-13, 2026, where leaders are expected to adopt the New Delhi BRICS Leaders’ Declaration.
India expects more than 400 meetings during its presidency across 35 ministerial and heads-of-agencies tracks, supported by Sherpa, working group, people-to-people and business tracks in nearly 30 cities.
Indonesia joined the NDB in March 2025 and agreed to make an initial US$1 billion investment in the bank.
Coordinating Economic Affairs Minister Airlangga Hartarto said the investment demonstrated Indonesia’s active role in strengthening cooperation among Global South countries through BRICS.
