Robert Soutar 28.04.2016 Civil society groups are concerned, despite New Development Bank’s approval of ‘green’ first loans. Robert Soutar reports The New Development Bank, set up by Brazil, Russia, India, China and South Africa in 2014 approved its first batch of loans this week (Image by Kremilin.ru ) Instead of funding coal plants, oil refineries or roads that cut through pristine forests as some observers had feared, new southern-led infrastructure lender the New Development Bank (NDB or BRICS bank), has earmarked its first US$ 811 million batch of loans for renewable energy projects. The NDB last week signed-off two main disbursements of US$300 million to Brazilian national development bank BNDES and US$250 million to India’s Canara bank to enhance renewable energy capacity. Shaktikanta Das, India’s economic affairs minister, described the loans as a “good start” on the way to proving the bank’s green credentials. South African
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