New Development Bank sanctions US$250 million loan for India renewable sector

The New Development Bank (NDB), China-led a multilateral development bank formed by the BRICS nations, has sanctioned a US$250 million loan for a renewable energy scheme in India, according to a senior government figure.


Shaktikanta Das, India’s secretary of economic affairs, took to Twitter to announce that NDB, formerly the BRICS Development Bank, had sanctioned four loans overall. Das had taken part in meetings with BRICS finance ministers and the NDB Board of Governors to discuss major policy issues.