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Building Renewable Energy in the Developing World, Brick by BRICS

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A group of five powerful nations has just created a new financial institution that may very well have a major influence on the growth of renewable energy in the developing world. At their sixth annual summit in July at the Brazilian city of Fortaleza, the so-called BRICS countries (Brazil, Russia, India, China and South Africa) officially established, as they had promised during last year’s summit, a new financial institution, the New Development Bank (NDB), to be based in Shanghai. The NDB’s purpose is to provide loans, guarantees and technical assistance to developing countries.

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Building Renewable Energy in the Developing World, Brick by BRICS

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