Saturday, April 16, 2016

#Bangalore headquartered @canarabanktweet gets $250 million loan from #BRICS bank for #renewableenergy

BRICS New Development Bank (NDB) has approved its first package of loans worth some $811 million for four projects in Brazil, China, South Africa and India.India’s Canara Bank will get $250 million for renewable energy projects as part of its first set of loans.The first tranche of $75 million will be given to Canara Bank for lending to projects for generating 500 MW additional renewable energy capacity.

BRICS New Development Bank (NDB) has decided to provide $300 million to Brazil, $81 million to China, $250 million to India and $180 million to South Africa. The bank estimates that the renewable energy field projects with a combined capacity of 2.37MW together can help reduce the amount of harmful emissions by 4 million tons annually.