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BRICS Bank to provide its first loan to India on Solar project

BRICS Bank to provide its first loan to India on Solar project
01 March 2016 Current Affairs: The New Development Bank set up by BRICS countries aims to lend up to USD 2 billion this year starting in about two months and the multilateral lenders first loan to India could be for a green solar energy project, its president K V Kamath said. "For this year, if we can approve one-and-a-half to two billion dollars I will be happy. We are six months into setting up the bank. We do not want to take steps which are too fast," Kamath told PTI.While the bank is in the process of finalising its set of loans to green projects from each of the BRICS countries -- Brazil, Russia, India, China and South Africa -- India’s first loan could be for a solar project, the eminent banker hinted."The projects we are looking at are all green projects. They are primarily in solar. A variety of initiatives were placed before us by the government," he said. Kamath, 68, said the bank is also looking for water projects and thereafter road projects to fund. The bank will release the first set of loans by April this year.


December 2016 Current affairs
9 DEC
NEWS
8 DEC
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7 DEC
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6 DEC
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5 DEC
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November 2016 Current affairs
30 NOV
NEWS
29 NOV
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28 NOV
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26 NOV
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25 NOV
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October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
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22 OCT
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September 2016 Current affairs
30 SEP
NEWS
29 SEP
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28 SEP
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27 SEP
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26 SEP
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24 SEP
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August 2016 Current affairs
31 AUG
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30 AUG
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27 AUG
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26 AUG
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