China inks deal with BRICS bank approving 525 mn yuan loan

China has inked an agreement with the New development bank (NDB) set up by the BRICS approving a 525 million yuan loan for a solar power project in the country. The new lender announced a 525 million yuan loan for the Shanghai Lingang Distributed Solar Power Project. This is the Bank’s first project in China, a solar photovoltaic power plant with total capacity of 100 MW to be built in Lingang Industrial Area of Shanghai.

Source – The Hindu

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