Iran eyes NDB membership as Araghchi hails ‘strong’ Modi-Pezeshkian meeting
Iran is actively pursuing membership in the New Development Bank (NDB) and strengthening economic ties with BRICS nations. Foreign Minister Abbas Araghchi highlighted productive meetings with Indian and other regional leaders regarding the use of local currencies.
Why it matters
Iran's potential entry into the NDB signals a strategic shift toward non-Western financial institutions and increased economic integration with the Global South.
NEW DELHI: Iran has stepped up its bid to join the New Development Bank (NDB), with foreign minister Abbas Araghchi saying Tehran has secured support from some countries and is now working to complete the requirements for membership.Araghchi, who is in New Delhi for the 18th Brics Summit, also described Iranian president Masoud Pezeshkian’s meeting with Prime Minister Narendra Modi as a “strong”, while highlighting Iran’s expanding engagement with Brics members and other countries.Speaking to Iranian news outlet SNN Iran on Saturday, Araghchi said Tehran was actively pursuing membership of the NDB.“We are working on that today, and some countries are supportive, and they are in the process of fulfilling the necessary requirements,” he said.Iran’s bid to join the NDB was announced last month by Central Bank of Iran governor Abdolnaser Hemmati, according to TV Brics, which cited Iranian media reports.Araghchi also highlighted discussions among Brics leaders on greater use…
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