BRICS is an intergovernmental organization founded in 2009 by Brazil, Russia, India, and China, and joined a year later by South Africa.
Some BRICS initiatives include the New Development Bank (a development bank owened in equal parts by the five founding BRICS members), the BRICS Contingent Reserve Arrangement (a lender of last resort for National Central Banks), and BRICS Pay (a payment system which will allow BRICS members to recieve and make payments in their own local currencies).
In 2024, Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates were invited to join the BRICS. Argentina declined the invitiation, Saudi Arabia is still assessing it and all the other countries agreed to join. In 2025 Indonesia became the 10th member state of BRICS.