The New Development Bank (NDB) have signed a US$300 million loan agreement with the Brazilian Development Bank (BNDES) to support investment in wind, solar, small hydropower plants, biomass, biogas and agricultural residues.
Some of the BRICS nations are witnessing a shortfall of billions of dollars in the renewables investment required to meet climate change mitigation policies, according to a report from the Institute of Energy Economics and Financial Analysis (IEEFA).
The New Development Bank (NDB), a China-led 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.
