The Export-Import Bank of China (EXIM) has announced that its outstanding loans to green industries had exceeded 250 billion yuan (CNY) – or about US$37.24 billion – by the end of last year as part of official efforts to step up green finance.
The policy bank will continue to finance green projects related to China’s belt and road initiative (BRI), vice president Sun Ping said at a conference in Beijing.
EXIM launched its first green bond, which had a term of five years and a value of one billion renminbi (RMB) – about US$148 million – in December 2016, making it the first Chinese policy bank to debut in the green bond market.
One trillion yuan for BRI
EXIM has also reported that its outstanding loans for the BRI have surpassed one trillion CNY (about US$149 billion). The bank’s chairman, Zhang Qingsong, announced that more than 1,800 BRI projects are currently underway.
The figures have been released ahead of the second Belt and Road Forum for International Cooperation, which will be held in Beijing from April 25 to 27. Leaders including heads of state and government from 37 countries will attend the forum's roundtable summit.
Special loans quota, totalling CNY 130 billion, for projects discussed in the first Forum in 2017, had all been used up, according to Zhang.
The policy bank said it will thoroughly prepare for the second Forum for International Cooperation and implement the agreements signed during the event.
We will adopt a differentiated financing plan, develop new cooperative models for financing and beef up working on green financing this year, Zhang said.
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