The Asian Development Bank announced on May 3 that it will provide China with a total of 800 million yuan (US$115 million) in partial credit guarantees to support building energy efficiency projects in southern and eastern China.
ADB’s deputy director general of the private business department, Chandle, said that this is the first time that ADB has participated in supporting such a large-scale energy-saving project in China. Energy-saving projects will be carried out in southern China and eastern provinces such as Guangdong, where industrialization is relatively high. The initial stage is mainly to support the promotion of “green†energy-saving buildings.
The so-called partial credit guarantee refers to the provision of guarantees for the related projects in the recipient country through commercial channels, usually covering part of the payment of interest or the repayment of principal.
The building energy conservation project in China is part of the ADB’s previously launched energy-saving financing program. ADB plans to increase its business investment in improving energy efficiency and promoting clean energy to US$1 billion a year.
ADB’s deputy director general of the private business department, Chandle, said that this is the first time that ADB has participated in supporting such a large-scale energy-saving project in China. Energy-saving projects will be carried out in southern China and eastern provinces such as Guangdong, where industrialization is relatively high. The initial stage is mainly to support the promotion of “green†energy-saving buildings.
The so-called partial credit guarantee refers to the provision of guarantees for the related projects in the recipient country through commercial channels, usually covering part of the payment of interest or the repayment of principal.
The building energy conservation project in China is part of the ADB’s previously launched energy-saving financing program. ADB plans to increase its business investment in improving energy efficiency and promoting clean energy to US$1 billion a year.