BANKS
The New Development Bank’s (NDB’s) first set of loans, totalling $811-million, to be disbursed in tranches, was allocated to supporting the development of 2 370 MW of renewable-energy capacity across emerging economies. The NDB, which was formed by Brazil, Russia, India, China and South Africa (Brics) to support infrastructure and sustainable development initiatives in emerging economies, approved the appraised projects in what NDB president Kundapur Kamath said was an important milestone for the newly established bank.
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