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The NDB will provide a 0 million loan to the Russian Federation for the development of infrastructure and implementation of information technology systems of Russia’s judicial system in Russia.
The loans were approved ahead of the BRICS summit to be held in China’s Xiamen city from September 3 to 5, 2017.
Mumbai â€" this city recently hosted the 102nd Indian Science Congress.
Pune- the city which recently hosted the two day conclave of all heads of banks called 'Gyan Sangam'.
The Board of Directors of the Bank approved four infrastructure and sustainable development projects in the three countries.
For India, the Bank has approved 0 million loan for Madhya Pradesh’s Multi-Village Rural Drinking Water Supply Scheme Project.
The bank - headquartered in Shanghai - was launched in July 2015 and issued its first loan in April 2016.
NDB was established in 2014 with an initial fund of 0 billion pooled from five BRICS countries.The other loans approved included China’s Hunan Green Area Watershed Environmental Development Project which would get two billion yuan to enhance flood control, and improve water quality in Xiang River watershed.Also China’s Jiangxi Industrial Low-Carbon Restructuring and Green Development Pilot Project will get a 0 million loan to promote energy conservation, resources recycling and pollutants reduction through technology upgrade.- the venue of the Asian Ministerial Conference on Disaster Risk Reduction (AMCDRR), 2016 which was held recently.The conference in which many Asian countries are participating was inaugurated by Prime Minister Narendra Modi.