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BRIEF-New Development Bank approves loans for China, India projects
22 November 2016


* New Development Bank has approved a 2 billion yuan ($290.55 million) loan for Putian Pinghai Bay Offshore Wind Power Project;

* The China loan is for Phase 2 (250 MW) of an offshore wind power power project proposed to be set up in Pinghai Bay, Fujian Province

* New Development Bank also has approved a $350 million loan for India's Madhya Pradesh Major District Roads Project;

* The India loan is to upgrade about 1,500 km (932 miles) of major district roads in the central state of Madhya Pradesh;

* New Development Bank announced the approvals in a statement on Tuesday ($1 = 6.8835 Chinese yuan renminbi) (Reporting By Matthew Miller)

Source:
http://in.reuters.com/article/idINB9N1DF020