Egypt became a member of BRICS' New Development Bank (NDB) which includes India, Brazil, Russia, China, and South Africa as member countries.

• According to an update posted on the bank's official website, Cairo completed all the necessary procedures to become an eligible member on February 20, 2023.
• It was given an official member status around that time. In 2020, the NDB board of Governors authorized the bank to hold a dialogue with potential member states of BRICS.
• Egypt's accession was later approved by NBD in December 2021. Earlier in September, the NDB board also approved similar procedures for United Arab Emirates (UAE), Uruguay, and Bangladesh. All three countries went on to become members of the bank.