China Development Bank enhances its financial support for green projects by $28 billion

The China Development Bank has strengthened its financial support for green and low-carbon industries, issuing green loans worth more than 200 billion yuan (about 28 billion dollars) during the first five months of the year, as the growth rate of these loans exceeded that of all other types of loans within the bank’s business.

According to Xinhua, the bank said that its cumulative issuance of carbon reduction loans through the carbon reduction credit facility exceeded 110 billion yuan.

The bank explained that it continued to enrich green financial products and services and actively support key sectors in energy conservation, pollution control, carbon reduction, greening and disaster prevention, among other tasks, to facilitate the comprehensive green transformation of economic and social development.

Looking ahead, the Bank will work to enhance the quality and efficiency of green financial services and expand support for the green transition in key sectors, including energy, water resources, transportation, and urban and rural construction.