The New Development Bank (NDB) has approved a 2bn yuan ($290m) loan for a 250MW offshore wind farm off the Chinese coast.
The bank will provide a sovereign project loan to the Chinese government for the second phase of the Putian Pinghai Bay wind farm in the province of Fujian, it said.
The offshore wind farm has one of the largest installed capacities among projects with similar design in China, according to the NDB.
NDB, founded by Brazil, Russia, India, China and South Africa, aims to mobilise resources for infrastructure and sustainable development projects in its member countries.
It has pledged a total of $1.5bn to seven projects since becoming fully operational in February.
Image: NDB
