{"id":13765,"date":"2024-11-11T17:00:08","date_gmt":"2024-11-11T17:00:08","guid":{"rendered":"https:\/\/srilanka.factcrescendo.com\/english\/?p=13765"},"modified":"2024-11-11T17:00:11","modified_gmt":"2024-11-11T17:00:11","slug":"has-sri-lankas-application-to-brics-membership-been-rejected","status":"publish","type":"post","link":"https:\/\/srilanka.factcrescendo.com\/english\/has-sri-lankas-application-to-brics-membership-been-rejected\/","title":{"rendered":"Has Sri Lanka’s Application to BRICS Membership Been Rejected?"},"content":{"rendered":"\n\n\n

After the NPP government was established recently, there have been a lot of rumours and misleading information which are being spread on social media, targeting their policies, etc.<\/p>\n\n\n\n

Social Media Posts <\/strong><\/p>\n\n\n\n

Social media posts claim that Sri Lanka\u2019s application to join BRICS (Brazil, Russia, India, China, and South Africa) was rejected<\/p>\n\n\n\n

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FB<\/a> | Archived<\/a> <\/p>\n\n\n\n

Some websites also reported it. <\/p>\n\n\n\n

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Web<\/a> | Archived<\/a> <\/p>\n\n\n\n

We decided to do a fact-check on this. <\/p>\n\n\n\n

Fact Check <\/strong><\/p>\n\n\n\n

Claim Verification:<\/strong><\/p>\n\n\n\n

The claim about Sri Lanka\u2019s application to join BRICS is accurate. Sri Lanka applied for membership during a BRICS summit, but spokespersons for the Sri Lankan government have confirmed that BRICS countries decided against admitting new members at this time. Not only Sri Lanka, a few other countries also applied and none of them were accepted.<\/p>\n\n\n\n

 BRICS currently consists of nine members (Brazil, Russia, India, China, South Africa, Saudi Arabia, UAE, Argentina, and Egypt) and has paused expanding its membership further as of the recent summit. Apart from member countries, there are some partner countries too. Some partner countries are Belarus, Bolivia, Cuba, Indonesia etc. While some other countries including Sri Lanka are waiting for membership. More details about it can be read here<\/a> <\/p>\n\n\n\n

While some countries like Argentina withdrew from BRICS membership, countries like Algeria`s request to join with BRICS membership were rejected . More details can be read here<\/a> <\/p>\n\n\n\n

NDB Membership:<\/strong><\/p>\n\n\n\n

Sri Lanka\u2019s application to join the NDB<\/a>, a development bank established by BRICS to support infrastructure and sustainable development projects, was accepted. NDB membership, which includes non-BRICS nations, offers emerging economies access to alternative funding sources outside Western-dominated financial institutions like the IMF and the World Bank.<\/p>\n\n\n\n

The NDB\u2019s decision is now with Sri Lanka\u2019s Finance Ministry, which will review it before presenting it to the Cabinet for final approval.<\/p>\n\n\n\n

Official Statements:<\/strong><\/p>\n\n\n\n

Cabinet Spokesman Vijitha  Herath clarified on November 6 that BRICS did not accept  Sri Lanka\u2019s bid for full membership but accepted the application for NDB membership. He explained that Sri Lanka had pursued BRICS membership by October, gaining support from foreign ministers of several BRICS nations, but the summit ultimately chose not to expand. He further stated not only Sri Lanka, but some other countries also applied, but none of them were approved by this time.<\/p>\n\n\n\n