/PRNewswire/ A news report from chinadaily.com.cn: This year marks the 30th anniversary of the construction of the Xiamen Torch Development Zone for High.
Green moves to change output modes By ZHOU LANXU | China Daily | Updated: 2021-05-11 09:12 Share CLOSE An aerial view of a wind farm in Liuzhou, Guangxi Zhuang autonomous region. [Photo by Tan Kaixing/For China Daily]
Decarbonization efforts in China will not stoke inflation, says NDB official
Growing impetus for decarbonizing efforts in China and the rest of the world will spawn new technologies that will change the ways of production, instead of just cutting carbon-intensive production and stoking inflation, a senior executive of a leading global financial institution said. (Decarbonization) doesn t mean that we are going to stop producing certain things. It will be producing in different ways, Leslie Maasdorp, vice-president of the Shanghai-based New Development Bank, told China Daily. The NDB is a multilateral development bank established by the BRICS economies: Brazil, Russia, India, China and South Africa.
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The European Bank for Reconstruction and Development (EBRD) plans to invest at least €2.1 billion ($2.47bn) in the Middle East and North Africa this year, mostly in the renewables and technology sectors, an executive of the London-based bank said.
The lender already has investments in a number of countries in the region, including Egypt, Morocco, Tunisia, Lebanon, Jordan and the West Bank and Gaza.
“Last year, we’ve done €2.1bn in the Mena region and this would roughly be similar to what we will do this year but we are a demand-driven institution and we have appetite to grow,” Heike Harmgart, managing director for the southern and eastern Mediterranean region at EBRD told
South Africa Secures Second $1 Billion Loan From Shanghai-Based Bank
New Development Bank’s building in Shanghai’s Pudong New Area on Dec. 20. Photo: VCG
(Bloomberg) The Shanghai-based New Development Bank approved a $1 billion emergency loan for South Africa to support government efforts to contain the economic impact of the coronavirus pandemic.
The funds will help finance the creation of employment opportunities, particularly under the Presidential Employment Stimulus program that aims to create and support about 700,000 jobs in the public sector, the lender said in an emailed statement on Thursday.
The NDB, which serves the so-called BRICS nations Brazil, Russia, India, China and South Africa approved another $1 billion emergency loan for South Africa in June 2020 to help the country overcome the health impact of the pandemic.
Economic reforms to drive India sovereign rating, says K V Kamath
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Last Updated: Mar 17, 2021, 08:50 PM IST
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Synopsis With all the efforts (economic reforms) the government of India is making, I think that sovereign rating itself would go up. Because, I don t think rating agencies can hold India s rating where it is, Kamath said. The Economic Survey had expressed concern over lower sovereign rating assigned by agencies like Fitch, S&P and Moody s to India despite its strong economic fundamentals.
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Kamath also noted that the government backing the institution (DFI) is also a big push.
Veteran banker K V Kamath on Wednesday expressed optimism that India s sovereign rating would go up on the back of efforts being taken by the government to push economic reforms. Participating in a virtual event organised by India International Centre (IIC), Kamath, former chief of Shanghai-based New Development Bank, further said that he does not think rating agencies can