Colombia’s Law to Join the BRICS Bank Died in Congress Without a Single Debate

Colombia’s attempt to join the BRICS Bank has stalled in Congress without receiving the necessary debate. The bank offers two distinct statuses: admission and membership. While Iran pledged to join the New Development Bank soon, both Colombia and Uruguay remain absent from its list, despite being admitted years ago. Colombia’s law for accession was filed in November 2025 but was archived under Article 190 of Ley 5 of 1992, which deals with bills left incomplete by the end of a legislative session.

The law requires ratification as a treaty under Colombia’s constitution, necessitating a bill approved by both chambers and reviewed by the Constitutional Court before the executive can deposit any documents. The government filed the bill in both chambers in December 2025 but was unable to secure a vote. To revive the bill, the government has to start anew in the Congress that begins on July 20, 2026, amid the backdrop of a presidential election year.

Meanwhile, Uruguay was admitted as a member in September 2021, but it has yet to submit the accession to Parliament. The Orsi government announced its intention to examine the question, but no decision has been made yet. With the NDB's total approved transactions amounting to $42.9 billion across 139 projects, the bank presents itself as a viable alternative source of infrastructure funding.

However, the admission process for both Colombia and Uruguay remains inconclusive, as neither country has yet deposited the instrument of accession, which is a prerequisite for membership.