The China-based NDB was established by the five BRICS member states – Brazil, Russia, India, China and South Africa – to finance infrastructure and sustainable development projects in BRICS and other developing nations.
The Brazilian Development Bank says it will receive the biggest credit, worth $300m, to help build around 600MW of additional renewable energy capacity in the country.
The NDB will will also provide a $250m loan to India’s Canara Bank with the first tranche of $75m earmarked for projects generating 500MW of additional renewables capacity.
South
