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BRICS Group To Establish New Development Bank

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AFRICANGLOBE - Leaders of the BRICS group of emerging powers on Tuesday created a Shanghai-based development bank and a reserve fund seen as counterweights to Western-led financial institutions.

Development Bank of Ethiopia Offers $20m To Fund Renewable Energy Projects

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AFRICANGLOBE - The Development Bank of Ethiopia will offer up to $20 million to private companies in efforts to accelerate development of renewable energy and energy efficient products. The funds will be drawn from money granted to the country by the World Bank in May of last year, with a total of $ 40 million having been allotted to renewable energy development projects initiated in the private sector according to reports in local media.

New Brics Bank ‘To Boost South Africa’

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The development bank planned by members of the BRICS group of influential emerging economies could help South Africa finance its state-led infrastructure drive, says...
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