BRICS New Development Bank signs first non-sovereign loan in China

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BRICS New Development Bank signs first non-sovereign loan in China
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BEIJING: Torrential rain and landslides in China's coastal provinces of Guangdong and Fujian have killed nine people and left 17 missing, state media and local authorities said on Monday (June 17).

SHANGHAI, May 28 -- The BRICS New Development Bank has signed a loan agreement to support sustainable infrastructure development in east China's Zhejiang Province, marking the latest update of its first non-sovereign loan in China, the bank announced Tuesday.

The loan to the Chinese bank will be on-lent to private sector borrowers for financing sustainable infrastructure projects in the sectors of clean energy and energy efficiency, transportation and logistics, as well as water and sanitation, according to NDB.

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