EU bank lent €298m for Chinese climate projects

The European Investment Bank (EIB) has confirmed it provided €298 million (£258m) for climate projects in China last year. The financing supported investment in new forestry, energy efficiency and large […]

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By Priyanka Shrestha

The European Investment Bank (EIB) has confirmed it provided 298 million (£258m) for climate projects in China last year.

The financing supported investment in new forestry, energy efficiency and large scale biomass projects across eight Chinese provinces.

The Bank is also examining a “strong pipeline” of new climate-related projects across the country, including urban transport and efficiency.

EIB Vice President Jonathan Taylor made the announcement today at the start of a five-day climate-focused visit to China.

The EIB and People’s Bank of China will for the first time jointly host a workshop with leading Chinese investors, financial institutions and regulators to develop an integrated approach to green finance.

Mr Taylor said: “As highlighted by G20 leaders in Hangzhou last September, sharing experience and best practice is essential to strengthen effective investment in clean energy, sustainable transport and energy saving and to promote an ambitious shift in private investment to provide long term financing for the green economy.

“This week’s visit will enable myself and EIB colleagues to learn how technical and financial experts and investors are successfully strengthening the Green Financial System here in China and how EIB’s unique experience can contribute to these efforts.”

Last month British Chamber Shanghai launched a new hub to help UK players create business opportunities in the Chinese offshore wind industry.