Second round of BRICS bank loans

China and India are the only
recipients of loans in the
second round of approvals by
the BRICS New Development
Bank.
The multilateral bank,
which opened its doors last
year, earlier this year granted
its first loans – one to each of
the BRICS countries.
This saw a loan of
US$180m (about R2.57
billion) approved to Eskom
to build transmission
lines to connect 500MW
of renewable energy
from Independent Power
Producers to the national
grid.
Last week a further
$350m loan was approved
for India for a roads project
and a $290-million loan for
an offshore wind project in
China.