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BRICS Bank approves two projects in China and India

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BRICS Bank approves two projects in China and India

The New Development Bank (NDB), a multilateral development bank established by the BRICS states, approved two projects worth about $641 million, which are planned to be realized on the territory of China and India, the Bank’s press release reads.

The Bank will grant a loan in amount of two million yuan, that is $291 million, for implementation of a project for construction of an onshore wind-electric plant in the Fujian Province of China.

Apart from that, a loan in amount of $350 million will be extended for realization of a project for constructions and modernization of 1,500 kilometers of roads in the Indian state of Madhya Pradesh.

Presentation of the projects was held on Tuesday in Shanghai.

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