BR America       中文       Deutsch       Français       日本語       ChinAfrica
Search      Subscribe
Home      Nation      World      Business      Opinion      Lifestyle      Multimedia      Documents      Special Reports      Africa Travel
Latest Headlines
BRICS New Development Bank Signs First Loan Agreement
The BRICS New Development Bank (NDB) signed its first loan agreement, providing a 525 million yuan ($75 million) loan for a solar project in China.

The loan was given to Shanghai Lingang Distributed Solar Power Project, with a maturity length of 17 years, under an agreement signed between NDB, the Ministry of Finance and the Shanghai Municipal Government.

"The solar power project is a good example of forward-looking and green investment," said K.V. Kamath, president of NDB.

Shi Yaobin, China's vice finance minister, said that under the global sluggish economic recovery, NDB can play its role in providing fund support for member states and expand global demand.

The project by Shanghai Lingang Hongbo New Energy Development is a solar photovoltaic power plant with total capacity of 100 MW.

NDB, which formally opened in Shanghai July last year, was created with the objective of financing infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries.

The bank approved its first package of loans worth $811 million in April.

(Xinhua News Agency December 21, 2016)
About Us    |    Contact Us    |    Advertise with Us    |    Subscribe
Partners: ChinAfrica   |   |   China Today   |   China Pictorial   |   People's Daily Online   |   Women of China   |   Xinhua News Agency   |   China Daily
CCTV   |   China Tibet Online   |   China Radio International   |   Beijing Today   |   gb times   |   China   |   Eastday   |   CCN
Copyright Beijing Review All rights reserved 京ICP备08005356号 京公网安备110102005860号
Chinese Dictionary: