“The New Development Bank has signed a 525 million yuan (US$76 million) sovereign loan agreement to fund a solar power project in Shanghai — the BRICS bank’s first loan project in China, the lender said yesterday.

The loan, to be used in Shanghai Lingang Distributed Solar Power Project, will allow the Lingang Industrial Area to have a solar photovoltaic power plant with a total capacity of 100 megawatts, the bank said.”

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27 Dec Development Bank of Rwanda investing in the energy sector

“Access to reliable and affordable energy remains a considerable challenge in Rwanda. For Rwanda’s private sector to be competitive, the energy issue must be addressed as a crosscutting driver for economic growth. According to Dr. Livingstone Byamungu, the Chief Investment Officer at the Development Bank of Rwanda (BRD), “availability of sufficient energy is important for socio-economic growth and is at the heart of development as all industries ranging from agro-processing, to manufacturing and infrastructure development depend upon  it for their success.””

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19 Dec President Jin Visits the Philippines

“AIIB President Jin Liqun visited the Philippines on December 12-14, 2016.

During his three-day visit to the capital city of Manila, he met with Philippine President Rodrigo Duterte, Finance Secretary Carlos G. Dominguez III, Governor Hermilando I. Mandanas of the province of Batangas, and other senior state and local government officials.”

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12 Dec “United against corruption – Integrity counts”: African Development Bank commemorates International Anti-Corruption Day on December 9

“International Anti-Corruption Day is celebrated every December 9, marking the adoption of the United Nations Convention Against Corruption (UNCAC) in Merida, Mexico, on this day in 2003.

With its Integrity and Anti-Corruption Department (IACD), the African Development Bank (AfDB) also commemorates this important date. Corruption and fraud are significant barriers to the proper conduct of the institution’s development work and to the achievement of the new Sustainable Development Goals adopted under the leadership of the United Nations.”

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12 Dec Nobel laureate Eric Maskin addresses issues of globalization and inequality at 11th African Economic Conference

“On Day 1 of the 11th African Economic Conference in Abuja, Nigeria, Prof. Eric Maskin of Harvard University and co-recipient of the 2007 Nobel Prize in economics made a short presentation on why globalization is accelerating inequality instead of reducing it. Maskin called for greater skills education and training, to provide people usually in rural agricultural areas with the means to enable them to find jobs in agro-industry.

Maskin spoke about income inequality in developing countries. “As you will see, this has quite a lot to do with agriculture,” he said.”

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