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

SHANGHAI, May 28 (Xinhua) -- The BRICS New Development Bank (NDB) 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.

Under the agreement, NDB will provide approximately 358 million yuan, 50 million U.S. dollars equivalent in RMB, to the Bank of Huzhou for financing a range of sustainable infrastructure development projects in Zhejiang.