Iran will soon join the New Development Bank (NDB), the development lender established by the Brics group of nations, central bank governor Abdolnaser Hemmati said in a state media report published ahead of a Brics finance meeting in India, Reuters reports.

Iran joined Brics in 2024 as the group expanded, in a move aimed at deepening economic ties among emerging economies, and it has since made clear its desire to become a member and shareholder of the NDB.

“The most important result of cooperation among Brics member countries is the establishment of the New Development Bank, and our country will soon become a member of this bank,” Hemmati said, according to state media.